(Telestock) – Revoluta British fintech with 40 million customers globally (including 2 million in Italy), has signed agreements with a group of leading investors in the technology sector to provide liquidity to employees through a secondary sale of shares to a valued at $45 billion.
This secondary share sale “enables existing employees to capitalise on their contribution to the growth” of Revolut, while attracting a diverse mix of new and existing investors, it said in a statement. The round was led by Coatue, D1 Capital Partners and from the existing investor TigerGlobal.
In the’latest round of funding The company was valued at $33 billion in its $800 million Series E round, which closed in July 2021. Investors such as Molten Ventures and Schroders have written down their stakes in 2023, amid a difficult period for fintech companies globally, during which Revolut has had no need to raise new capital, potentially lowering its valuation.
In 2023, Revolut reported revenues of $2.2 billion (a 95% year-on-year increase) and record pre-tax profits of $545 million. In first half of 2024 he scored by recording a Annual revenue increase of more than 80% and “improved” profitability. Revolut, which won a coveted UK banking license in July, is on track to surpass 50 million customers by the end of 2024.
“We are pleased to offer our employees the opportunity to realize the benefits of the company’s collective success,” commented the CEO Nik Storonsky – It is their hard work, innovation and dedication that have driven us to become the most valuable private technology company in Europe. We are also excited to partner with several new investors who share our vision as we continue our journey to redefine banking as we know it.”
Morgan Stanley played the role of sole placement agent for the operation.