Financial technology company Revolut has signed agreements with a group of technology investors to provide liquidity to employees through a secondary share sale at a $45bn valuation.
The company said the secondary share sale would enable current employees to capitalise on their contribution to Revolut’s growth, while attracting a diverse mix of both new and existing investors.
The round was led by Coatue, D1 Capital Partners, and existing investor Tiger Global.
The deal follows the award of a UK banking licence (Authorisation with Restrictions) to Revolut in July.
Nik Storonsky, chief executive at Revolut, said: "We’re delighted to provide the opportunity to our employees to realise the benefits of the company’s collective success. It’s their hard work, innovation, and dedication that has driven us to become the most valuable private technology company in Europe.
“We’re also excited to partner with several new investors who share our vision as we continue our journey to redefine the banking landscape as we’ve known it.”
In 2023, Revolut reported revenues of $2.2bn – a year on year increase of 95 per cent – and a record profit before tax of $545m. In the first half of 2024, it recorded an annual increase in revenue of above 80 per cent as well as improved profitability.
The company is on track to surpass 50 million customers by the end of 2024.
Morgan Stanley served as sole placement agent on the transaction.
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