Revolut signed agreements with investors for a secondary share sale that values the company at $45 billion.
The British FinTech launched a secondary sale of shares to provide liquidity to employees and attract both new and existing investors, according to a statement published on Friday (August 16). Press release.
“We are happy, the possibility, “We want our employees to be able to reap the benefits of our shared company success,” said Revolut CEO Nik Storonsky says the press release. “Their hard work, innovation and dedication have made us Europe’s most valuable private technology company. We are also excited to partner with several new investors who share our vision as we continue our journey to redefinition the banking landscape as we know it.”
Revolut attributed the rating to its Financial performance in recent quarters, including revenue of $2.2 billion in 2023 – a figure 95% higher than last year – and pre-tax profit of $545 million, a company record.
In the first half of 2024, Revolut reported an annual increase in revenue of over 80%, as well as improved profitability and growth in its customer base. According to the press release, the company is on track to surpass 50 million customers by the end of the year.
As part of further developments this year, the company secured a Banking license in Mexico; received a Banking license in the United Kingdom; and introduced the RevPoints loyalty program, eSIMs and the Revolut X crypto exchange, according to the press release.
The secondary share sale was led by Coat, D1 Capital Partner And Tiger Global.
Revolut was preparing to sell employee shares in July. It was reported at the time that the sale of its Evaluation by more than a third, indicate increasing confidence in the FinTech sector and pave the way for an initial public offering (IPO).
The company was previously appreciated in a fundraising campaign in 2021 to 33 billion US dollars.
Revolut Chair Martin Gilbert said in July that the company had been away from a IPO and he intended to remain “unbiased” about where the listing would take place.
