Revolut, a London, UK-based global financial technology company with over 45 million customers worldwide, signed agreements with a group of technology investors to provide liquidity to employees through a secondary share sale at a $45 billion valuation.
The round was led by Coatue, D1 Capital Partners, and existing investor Tiger Global.
This secondary share sale allows current employees to capitalise on their contribution to Revolut’s growth, while attracting a diverse mix of both new and existing investors.
This valuation reflects the financial performance recorded by the company in recent quarters as well as the progress made in executing its strategic objectives. In 2023, Revolut reported revenues of $2.2 billion (a year on year increase of 95%) and a record profit before tax of $545 million.
This latest development builds on the growth Revolut has gained throughout the year. The company, led by Nik Storonsky, CEO, secured a banking licence in Mexico, followed by the granting of its UK banking licence (Authorisation with Restrictions) in July, an important step in the company’s continued expansion both in the UK and globally. Additionally, Revolut announced the launch of several new products including the RevPoints Loyalty Programme, eSIMs, and the Revolut X crypto exchange.
FinSMEs
27/08/2024