Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Sacra estimates that Monzo generated $418M in revenue in the first quarter of 2025, after generating $1.254B in all of 2024.</li><li>Over the trailing twelve months, customer deposits grew 48% to $22.4B, while their total number of customers grew 25% from 9.7M to 12.2M.</li><li>Monzo reported a pre-tax profit of £60.4M in its most recent results, building on $81.7M in pre-tax profits for FY2025 compared to $18.8M the prior year — marking their second consecutive year of profitability.</li></ul>

Sacra estimates that Monzo generated $418M in revenue in the first quarter of 2025, after generating $1.254B in all of 2024.Over the trailing twelve months, customer deposits grew 48% to $22.4B, while their total number of customers grew 25% from 9.7M to 12.2M.Monzo reported a pre-tax profit of £60.4M in its most recent results, building on $81.7M in pre-tax profits for FY2025 compared to $18.8M the prior year — marking their second consecutive year of profitability.

<ul><li>Revolut generated £4.5B ($6.0B) in revenue in 2025, up ~50% year-over-year from £3.1B ($4.0B) in FY2024, with profit before tax of £1.7B ($2.3B, 38% PBT margin, +57% YoY) and net profit of £1.3B ($1.7B).</li><li>Revolut&#39;s customer base grew to 68.3M retail customers and 767K business customers by end of FY2025, up from 52.5M retail at end of 2024.</li><li>Revolut most recently completed a secondary share sale (November 2025) that established a $75B valuation, led by Coatue, Greenoaks, Dragoneer, and Fidelity Management &amp; Research, with participation from NVentures and existing employees.</li></ul>

Revolut generated £4.5B ($6.0B) in revenue in 2025, up ~50% year-over-year from £3.1B ($4.0B) in FY2024, with profit before tax of £1.7B ($2.3B, 38% PBT margin, +57% YoY) and net profit of £1.3B ($1.7B).Revolut&#39;s customer base grew to 68.3M retail customers and 767K business customers by end of FY2025, up from 52.5M retail at end of 2024.Revolut most recently completed a secondary share sale (November 2025) that established a $75B valuation, led by Coatue, Greenoaks, Dragoneer, and Fidelity Management &amp; Research, with participation from NVentures and existing employees.

Chime Financial / Private Capital Markets

<ul><li>Sacra estimates that Chime generated $2.19B in revenue in 2025, up 31% from $1.7B in 2024 (and $1.3B in 2023).</li><li>For 2026, Chime guided to $2.63B–$2.67B revenue and $380M–$400M adjusted EBITDA, and expects 2026 to be its first full year of GAAP profitability.</li><li>The IPO priced at $27.00 per share on June 11, 2025, selling 32 million shares (25.9M primary + 6.1M secondary) for $864M in proceeds, valuing the company at approximately $11.6B on a fully diluted basis.</li></ul>

Sacra estimates that Chime generated $2.19B in revenue in 2025, up 31% from $1.7B in 2024 (and $1.3B in 2023).For 2026, Chime guided to $2.63B–$2.67B revenue and $380M–$400M adjusted EBITDA, and expects 2026 to be its first full year of GAAP profitability.The IPO priced at $27.00 per share on June 11, 2025, selling 32 million shares (25.9M primary + 6.1M secondary) for $864M in proceeds, valuing the company at approximately $11.6B on a fully diluted basis.

<ul><li>Varo generated $129M in gross revenue in 2023, growing 27% year-over-year from $101M in 2022.</li><li>In January 2025, Varo filed for a $55M Series G round, closing $29M with 13 investors as of February 2025.</li><li>Varo reduced customer acquisition costs by 31% in 2024.</li></ul>

Varo generated $129M in gross revenue in 2023, growing 27% year-over-year from $101M in 2022.In January 2025, Varo filed for a $55M Series G round, closing $29M with 13 investors as of February 2025.Varo reduced customer acquisition costs by 31% in 2024.

<ul><li>Sacra estimates Starling Bank generated $966M in revenue in 2024, growing 10% year-over-year from $873M in 2022.</li><li>Starling Bank is valued at $3.57B as of 2024.</li><li>Starling Bank has tailwinds from rising interest rates and the shift to digital banking, with opportunities to expand into adjacent markets like Banking-as-a-Service (BaaS) technology licensing and international banking services.</li></ul>

Sacra estimates Starling Bank generated $966M in revenue in 2024, growing 10% year-over-year from $873M in 2022.Starling Bank is valued at $3.57B as of 2024.Starling Bank has tailwinds from rising interest rates and the shift to digital banking, with opportunities to expand into adjacent markets like Banking-as-a-Service (BaaS) technology licensing and international banking services.

United Kingdom

Mobile banking app offering checking, savings, lending, and subscriptions to UK consumers

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Monzo (MONZO GB)

Primer: Monzo - 20 Apr 2026

Mobile banking app offering checking, savings, lending, and subscriptions to UK consumers

Sacra

Primer: Revolut - 02 Jun 2026

Mobile banking app offering checking, savings, investing, and lending for global consumers

Sacra

Primer: Chime - 25 May 2026

Mobile banking app offering no-fee accounts and early paycheck access for low-income consumers

Sacra

Primer: Varo - 19 Apr 2026

Mobile banking app offering checking accounts, savings, and debit cards to consumers

Sacra

Primer: Starling Bank - 01 Sep 2025

Mobile banking app offering checking, savings, and lending services to UK consumers

Sacra

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