How a £1m Investment Made Revolut a VC Jackpot

Early investments in Revolut have become the most successful deal in the 25-year history of Balderton Capital and one of the most profitable venture capital bets ever made in Europe.

According to a report by the Financial Times, London-based venture fund Balderton Capital led Revolut’s earliest funding round in 2015, backing the fintech long before it became one of Europe’s most valuable private companies.

A million-pound bet

In that early round, Revolut raised £1.5 million at a valuation of just £6.7 million. Balderton Capital contributed approximately £1 million of the total, effectively anchoring the startup’s first institutional financing.

At the time, Revolut was a young payments-focused company with ambitious plans to challenge traditional banking infrastructure.

Daniel Waterhouse, a partner at Balderton Capital and former board member of Revolut, told the Financial Times that founder Nikolay Storonsky stood out for his clarity of vision and deep understanding of payments systems.

According to Waterhouse, Storonsky’s pitch was notable for the absence of hype. “There was no nonsense or showmanship,” he said, adding that this focus on execution was a key factor behind Revolut’s long-term success.

From startup to fintech heavyweight

Today, Revolut is valued at around $75 billion, making it one of the most valuable private fintech companies globally.

Sources cited by the Financial Times say that Balderton Capital has returned more than 25 times its original $305 million fund investment to its own investors, largely driven by gains from its Revolut stake.

Over the past year alone, the fund is reported to have realised roughly $2 billion by partially exiting its position. Even after these sales, Balderton is understood to retain a significant stake in the company, which previously exceeded 10%.

IPO expectations build

The scale of the returns has intensified market attention on Revolut’s next strategic step.

According to the Financial Times, the company is moving closer to a potential initial public offering, with discussions suggesting a listing could take place as early as this year.

Storonsky himself has publicly acknowledged that an IPO is under consideration. In a recent interview, he said Revolut is evaluating a public listing within the next two to three years, depending on market conditions.

A landmark moment for European venture capital

The Revolut investment is increasingly viewed as a defining case study for European venture capital, demonstrating that global-scale fintech champions can be built outside Silicon Valley.

For Balderton Capital, the deal represents not only a financial triumph but also a validation of long-term conviction investing in founders with deep technical expertise and global ambition.

As Revolut edges closer to the public markets, its journey from a £6.7 million startup to a potential IPO candidate underscores one of the most extraordinary value-creation stories in modern European technology.