UK-based fintech company Revolut has announced that its valuation has reached $75 billion following a recent share sale to several investors, including Nvidia’s venture capital arm, NVentures. The company, founded in 2015, has established itself as a leader in providing financial services via smartphones, initially focusing on currency exchange and transfers.

Revolut’s latest share round also saw investment from US firms Coatue, Greenoaks, and Dragoneer. According to Victor Stinga, the company’s chief financial officer, the high level of investor interest and new valuation reflect the strength of Revolut’s business model, which is delivering rapid growth and strong profitability.

The company had confirmed in September that it had begun an employee secondary share sale, with sources indicating that its valuation had already risen to $75 billion, up from $45 billion last year. Revolut has recently announced plans to invest $13 billion over five years to support its international expansion, targeting 100 million customers across 100 countries.

As a digital banking alternative, Revolut has experienced rapid growth, but this has also drawn criticism regarding its ability to comply with financial regulations, particularly those aimed at combating fraud and money laundering. The company’s expansion plans and increasing valuation highlight its growing presence in the global fintech industry.

With its sights set on international expansion, Revolut’s latest valuation solidifies its position as a major player in the digital banking sector. The company’s ability to attract significant investment and achieve strong profitability will likely continue to shape the fintech landscape. As Revolut moves forward with its expansion plans, it will be important for the company to address regulatory concerns and ensure compliance with financial regulations.