Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, is in advanced talks to acquire an additional $100 million stake in Revolut, the UK-based digital banking and payments giant. This move follows Mubadala’s initial entry into Revolut’s shareholder base during a major secondary share sale in August 2024, when the fintech was valued at approximately $45 billion. The new investment would be sourced from existing shareholders, including early backers such as Balderton Capital, and would further cement Mubadala’s position as a key strategic investor in one of Europe’s most valuable fintech firms.
Mubadala’s growing involvement reflects its broader strategy to increase exposure to high-growth European technology companies, particularly in the fintech sector. Over the past five years, Mubadala has participated in at least 28 deals across Europe, including stakes in other fintech leaders such as Klarna.
This additional investment also aligns with Mubadala’s ambitions to position Abu Dhabi as a global fintech hub, leveraging Revolut’s rapid expansion into the Middle East and Asia.
Revolut’s meteoric rise and financial momentum
Revolut’s trajectory over the past few years has been remarkable. Since its $33 billion valuation in 2021, the company’s worth has surged to $45 billion following the 2024 secondary share sale. More recently, investor estimates have suggested valuations as high as $48 billion, while Revolut itself rejected a secondary share sale offer in early 2025 that would have valued the company at $65 billion. This decision underscores Revolut’s confidence in its long-term growth and its desire to control the timing and terms of liquidity events.
Financially, Revolut has achieved profitability milestones that few fintechs can match. In 2023, it reported a pre-tax profit of £438 million, a dramatic turnaround from a £25 million loss the previous year. This momentum continued into 2024, with Revolut posting a net profit of $1 billion, more than doubling its profit from the prior year. The company’s pre-tax profit soared to £1.1 billion, marking four consecutive years of profitability.
Revolut’s user base has expanded rapidly, growing 38% in 2024 to over 52.5 million customers worldwide. This growth is fueled by continuous innovation and product diversification. In 2025, Revolut plans to launch an AI-powered financial assistant designed to personalise banking experiences, introduce digital mortgage products across multiple European markets, and roll out branded ATMs starting in Spain.
Additionally, Revolut Business is set to launch its first business credit product, offering top-tier savings rates across the European Union, further broadening its appeal to both retail and corporate clients.
CEO Nik Storonsky’s leadership remains a critical factor in Revolut’s success. He is reportedly eligible for a performance-based incentive package that could grant him up to 10% ownership if Revolut achieves ambitious valuation milestones, a structure reminiscent of Elon Musk’s compensation plan at Tesla. This incentive aligns management’s interests with those of shareholders, underscoring the company’s ambitious growth goals.
What’s next for Revolut? Global expansion and Middle Eastern influence
Mubadala’s increasing stake in Revolut is not only a financial bet but also a strategic move to deepen ties with a fintech leader poised for global dominance. Revolut is actively pursuing regulatory approvals to secure a full UK banking license, which remains pending as of mid-2025. Meanwhile, the company is aggressively expanding into the Gulf Cooperation Council (GCC) region, applying for banking licenses in the UAE and exploring opportunities in Saudi Arabia. These moves are designed to capitalise on the Middle East’s rapidly growing digital banking market and Mubadala’s regional influence.
The partnership between Mubadala and Revolut exemplifies the growing role of Middle Eastern sovereign wealth funds in shaping the future of global fintech. By backing Revolut’s expansion and innovation, Mubadala is helping to position Abu Dhabi as a gateway for cutting-edge financial services and technology investments.
Mubadala’s intention to increase its stake in Revolut underscores the fintech’s remarkable growth and profitability, as well as the growing influence of Middle Eastern capital in the global financial technology landscape. With a robust user base, an innovative product pipeline, and ambitious international expansion plans, particularly in the Middle East, Revolut is well-positioned to redefine digital banking globally.
