[Revolut's Private Valuation Reaches $115 Billion, Becoming Europe's Highest-Valued Startup] BlockBeats News, October 5: According to Reuters, the crypto-friendly bank Revolut's private valuation has reached $115 billion, making it the highest-valued startup in Europe, surpassing the valuations of the UK's Barclays Bank and France's Société Générale. The company currently has 80 million customers, close to JPMorgan Chase's 84 million and significantly higher than HSBC's 41 million. Revolut is applying for more market licenses to expand its business from Mexico to regions like Australia. Revolut's pre-tax profit for 2025 is projected at £1.7 billion, lower than Barclays' £9 billion, but it continues to grow rapidly. Its revenue comes from a variety of products, including payments, foreign exchange, and card subscriptions, rather than relying primarily on loans. By the end of 2025, Revolut's loan portfolio is expected to be just £2.2 billion, with a loan-to-deposit ratio of 6%, significantly lower than HSBC's 55% and Société Générale's 86%. Revolut still faces challenges such as low revenue per customer, limited scale in its loan business, and insufficient usage of primary accounts. In the U.S. market, the company holds a temporary license but will face more intense competition. Additionally, Revolut was previously fined in Lithuania for anti-money laundering deficiencies and, in September, mistakenly sent some customer data to hackers impersonating government investigators. [Original Article Link]