Balderton Capital got a ~2,050× multiple on its £1.5M seed investment in Revolut. Today that stake is worth around $6.15B 🤯
The numbers (roughly from Crunchbase & Bloomberg data):
Balderton first invested £1.5M in Revolut’s 2015 seed round at an £8M valuation, which gave the firm 14.56% of the company. Seedcamp also invested at this stage.
In 2016, Index Ventures led a £4.8M follow-on seed round. The dilution from this round reduced Balderton’s stake to ~9.1%.
Shortly after, Balderton led the Series A. Following that round, their position adjusted to ~10.9%.
As Revolut scaled, several significant fundraising rounds followed:
- $250M at a $1.95B valuation
- $580M at $6.08B
- $800M at $33.8B
After these rounds, Balderton’s stake moved to 9.29% → 8.40% → 8.20%.
At the $33.8B valuation, their stake was worth approximately $2.77B.
In 2024 and 2025, secondary transactions priced Revolut at $45B and then $75B.
At the $75B valuation, Balderton’s ~8.2% stake is estimated at $6.15B.
Across their early checks (roughly £3M in total), this results in an approximate 2,050× return on capital.
For context:
An individual who invested £1,000 on the same terms would see that grow to roughly £2,050,000.
This single position generated more than 20× the size of Balderton’s £300M fund 🤯
This is probably the best single VC investment in Europe's history
The numbers (roughly from Crunchbase & Bloomberg data):
Balderton first invested £1.5M in Revolut’s 2015 seed round at an £8M valuation, which gave the firm 14.56% of the company. Seedcamp also invested at this stage.
In 2016, Index Ventures led a £4.8M follow-on seed round. The dilution from this round reduced Balderton’s stake to ~9.1%.
Shortly after, Balderton led the Series A. Following that round, their position adjusted to ~10.9%.
As Revolut scaled, several significant fundraising rounds followed:
- $250M at a $1.95B valuation
- $580M at $6.08B
- $800M at $33.8B
After these rounds, Balderton’s stake moved to 9.29% → 8.40% → 8.20%.
At the $33.8B valuation, their stake was worth approximately $2.77B.
In 2024 and 2025, secondary transactions priced Revolut at $45B and then $75B.
At the $75B valuation, Balderton’s ~8.2% stake is estimated at $6.15B.
Across their early checks (roughly £3M in total), this results in an approximate 2,050× return on capital.
For context:
An individual who invested £1,000 on the same terms would see that grow to roughly £2,050,000.
This single position generated more than 20× the size of Balderton’s £300M fund 🤯
This is probably the best single VC investment in Europe's history
My full breakdown productmarketfit.tech/p/the-revolut-…
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