Revolut has launched a secondary sale of its shares valuing the financial technology giant at $75 billion, a source familiar with the company said this week, as the London-based group doubles down on its expansion plans to rival bigger lenders.

Revolut, which has emerged as the most successful of a handful of European fintechs founded in the past decade with a digital-only model, was valued at $45 billion last year through a share sale from new and existing investors.

“An employee secondary share sale is currently in process, and we won’t be commenting further until it is complete,” a spokesperson for Revolut said in an emailed statement on Monday.

The share sale was first reported by Bloomberg News, which said the process valued each Revolut share at $1,381.06.

In April, the fintech company more than doubled its reported annual profit, boosted by strong crypto trading, interest income, and card fees, and said that it expected to start operating as a UK bank this year.