Revolut Aims for $40 Billion Valuation in Employee Share Sale
Hey FinTech Fanatic!
Revolut, founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, is targeting a valuation exceeding $40 billion in an upcoming employee share sale. This move, which involves selling approximately $500 million worth of existing shares with the help of Morgan Stanley, aims to solidify its position as Europe’s most valuable start-up.
The proposed valuation represents a significant increase from the $33 billion achieved during a 2021 fundraising round, placing it on par with major financial institutions like Lloyds Banking Group and surpassing others such as NatWest and Société Générale.
Achieving this ambitious target would be a notable success amid a challenging period for European FinTech companies. For instance, Stockholm-based Klarna experienced a drastic drop in its valuation from $46 billion to $6.7 billion in 2022. Some venture capital investors have similarly reduced their stakes in Revolut due to market conditions.
Revolut’s future is also contingent on its pending application for a UK banking license, submitted over three years ago.
The company now boasts around 40 million global customers, with a significant portion based in the UK, and is moving its headquarters to one of the most prominent buildings in London’s Canary Wharf financial district.
Never a dull moment at Revolut 😉
Cheers,
BREAKING NEWS
🚨 Revolut is targeting a valuation exceeding $𝟰𝟬𝗯𝗻 in a share sale that would cement its status as Europe’s most valuable start-up. The SoftBank-backed company is working with Morgan Stanley to sell about $500mn worth of existing shares, including those held by employees.
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