Revolut, the U.K.-based neobank, has confirmed a new valuation of $45 billion following a secondary market share sale. The transaction took place shortly after Revolut secured banking licenses in both the U.K. and Mexico, signaling a major step forward in its global expansion efforts.

According to Pitchbook, an undisclosed investor offloaded a stake in Revolut to prominent investment firms Coatue Management and D1 Capital Partners. This sale has priced Revolut's shares at $865.40 each.

The market had been anticipating a secondary transaction from Revolut, a move that underscores a growing trend among companies to leverage secondary markets for setting valuations amid a stagnant IPO landscape. With the window for initial public offerings largely closed, companies like Revolut are turning to secondary sales to establish their market value.

This development follows in the footsteps of Stripe, which in July confirmed a $70 billion valuation through a similar secondary market transaction. Meanwhile, earlier this month, Bloomberg reported that Klarna is in the early stages of exploring investor interest in buying existing shares on the secondary market.