British fintech company Revolut has been valued at $75 billion in a secondary share sale, placing it in the leagues of Europe's biggest traditional banks, a source told AFP Monday.

The company, founded in 2015, has been a leader in rolling out financial services to customers via smartphones, initially focusing on allowing clients to easily exchange currencies and make transfers.

A source close to Revolut said on Monday that it is allowing employees to sell shares at a valuation of $75 billion, significantly higher than its previous $45 billion valuation.

Revolut said "an employee secondary share sale is currently in process, and we won't be commenting further until it is complete."

The Financial Times reported last month that the company is in discussions with investors to raise additi

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