Business

Revolut's valuation soars to $45bn in employee share sale

Aug 16, 2024 1 min read

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Revolut, a British financial technology firm, has achieved a valuation of $45 billion through a secondary share sale by its employees. This development solidifies its position as Europe’s most valuable start-up. Institutional investors including Coatue, D1 Capital Partners, and Tiger Global led the share purchase. The company’s valuation has increased from the $33 billion it achieved in a 2021 funding round led by SoftBank and Tiger Global.

The share sale follows Revolut’s recent receipt of a UK banking license, which allows it to hold customer deposits and offer lending products such as credit cards and personal loans. The company, founded in 2015, reported a record pretax profit of £438 million in 2023 and aims to surpass 50 million users by the end of the year. There is also speculation that Revolut may consider a public listing on the Nasdaq in New York, despite interest from the UK government to list on the London Stock Exchange.

#tech #finance #fintech #ipo #markets

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