Revolut valuation jumps after employee share sale launch
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The news: London-headquartered fintech Revolut has launched a secondary share sale that pushes its valuation up by two-thirds to USD75 billion ($114.5 billion), financial media reported citing an internal staff memo and unnamed sources.
The numbers: The new valuation compares with the USD45 billion valuation the fintech had last year.
The sale prices each share at USD1,381.06, Bloomberg reported, citing a staff memo, and allows employees to sell up to 20% of their stakes to new and existing investors.
What they said: A Revolut spokesperson confirmed to media that an employee secondary share sale was in process but said no further official comment will be made until it is complete.
With more than 60 million customers, Revolut ranks among the most valuable fintechs, more than doubling its 2024 profit to £1 billion on a 72% revenue increase.
The company gained initial approval for a UK banking licence in July 2024 but continues to operate under a restricted licence, with the timing of an IPO still uncertain.
The sources: Bloomberg, Reuters, The Guardian
