Abu Dhabi’s big investment fund, Mubadala, is back for more. After joining UK fintech Revolut as a shareholder last year, it’s now in talks to buy another $100 million stake. This time, the shares would come from early investors, like Balderton Capital, who seem ready to cash in.
So why is Mubadala doubling down? Simple: Revolut is growing fast, making real profits, and expanding into new regions, including the Middle East, where Mubadala just happens to have a lot of influence. Smart timing, smart move.
Over the last five years, Mubadala has invested in over 28 tech companies across Europe. It already owns shares in big names like Klarna. Now, by increasing its stake in Revolut, it’s pushing forward its plan to make Abu Dhabi a global fintech hub.
Revolut’s rise has been fast, and pretty impressive. The company was worth $33 billion in 2021. By 2024, that jumped to $45 billion. Some say it could be worth $48 billion now. And earlier this year, Revolut even turned down an offer that valued it at $65 billion. Clearly, they’re not in a rush to sell themselves short.
Revolut isn’t just growing in value. It’s finally making serious money. In 2023, it moved from a £25 million loss to a £438 million profit. In 2024, profits more than doubled again, £1.1 billion in pre-tax profit and $1 billion in net profit. Not many fintechs can say that.
Its user base tells the same story. Revolut grew its customers by 38% in 2024, reaching 52.5 million users around the world.
What’s Coming Next?
In 2025, Revolut has big plans. It wants to launch:
-
An AI-powered financial assistant
-
Digital mortgages in several European countries
-
Revolut-branded ATMs, starting in Spain
-
And a new credit product for businesses
They’re also offering strong savings rates in the EU to attract more business users. Basically, they want to be a full-service bank, without the bank branches.
Meanwhile, CEO Nik Storonsky could get up to 10% ownership of Revolut if it hits big targets. It’s a reward plan similar to Elon Musk’s at Tesla. Big risk, big reward.
But not everything is about Europe. Revolut is working on getting banking licenses in the UAE and Saudi Arabia, aiming to expand across the Middle East. And that’s where Mubadala comes in. With their local power and Revolut’s tech, it’s a strong partnership.
Sure, Revolut is still waiting for its UK banking license (yes, still). But that’s not stopping it from moving ahead elsewhere.
