Revolut employees are in line for a major payout after the UK fintech firm launched a secondary share sale that values the company at $75bn (£55bn), a two-thirds increase from its previous valuation. The sale prices each share at $1,381.06, cementing Revolut's position as one of the world's most valuable fintech companies.
Staff will be allowed to sell up to 20% of their personal holdings to new and existing investors over the coming weeks, with payouts expected in early autumn. The move follows Revolut's annual profits surging by more than 150% in 2024 to £1bn, driven by growth in subscriptions and revenues from wealth and crypto trading divisions.
Founder and CEO Nik Storonsky has already benefited from a separate share sale last summer that valued the company at $45bn, reportedly netting him $200m-$300m. He is said to be in line for a multibillion-dollar fortune if Revolut's valuation eventually exceeds $150bn.
The secondary sale has sparked speculation about the timing of Revolut's much-anticipated initial public offering (IPO). Kathleen Brooks, research director at XTB, said: 'This could be a sign that the company will either IPO soon or that its employees are getting antsy about the lack of an IPO.' Storonsky suggested last December that New York might be a better fit for the listing due to the regulatory environment and market size, which would be a blow to the London Stock Exchange.
Revolut has faced frustration with UK regulators over delays in granting a full banking licence, which would allow it to hold customer deposits and offer loans and mortgages. The company waited three years for initial approval, granted in July 2024, and remains on a restricted licence. Chancellor Rachel Reeves attempted to intervene but was blocked by Bank of England Governor Andrew Bailey over concerns of meddling.
