Nik Storonsky, CEO of Revolut, has sold shares worth up to $300 million in a secondary share sale, shedding 40-60% of his stock. Despite this, he retains an $8 billion stake in the fintech firm he founded in 2015.
The recent secondary share sale, reportedly valued at $45 billion, reflects Revolut's growth and market position, surpassing traditional UK banking valuations, such as NatWest.
Revolut, which began in 2015 as a prepaid card service, now boasts over 45 million customers and has recently acquired a banking license after addressing regulatory concerns.
Stressing the challenges of operating in the UK, Storonsky criticized the lengthy licensing process and highlighted the high taxes and bureaucratic regulatory environment.
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