"Revolut employees are in line for a payout bonanza after the UK fintech firm launched a share sale that has pushed its valuation up by two-thirds to $75bn (55bn). The secondary sale, which prices each share at $1,381.06, will secure the finance app's position as one of the world's most valuable fintech firms. Employees will be allowed to sell up to 20% of their personal holdings to new and existing investors over the coming weeks, with payouts likely to follow in the early autumn."
"The secondary share sale, which was announced to staff on Monday, comes after Revolut boosted its annual profits by more than 150% in 2024 to 1bn, following a jump in subscriptions and revenues from its wealth and crypto trading divisions. Revolut's founder and chief executive, Nik Storonsky, has already enjoyed a $200m-$300m windfall, according to reports, as a result of a separate share sale that valued the company at $45bn last summer."
Revolut launched a secondary share sale that values the company at $75bn and prices shares at $1,381.06. Employees can sell up to 20% of their personal holdings to new and existing investors in the coming weeks, with payouts likely in early autumn. Annual profits rose by more than 150% in 2024 to £1bn, driven by higher subscriptions and growth in wealth and crypto trading revenues. Founder Nik Storonsky previously realised a $200m–$300m windfall and could gain a multibillion-dollar fortune if the valuation surpasses $150bn. The timing has prompted speculation about a delayed IPO and preference for liquidity.
Read at www.theguardian.com
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