Britain’s newest bank has signed agreements over a secondary share sale at a $45 billion valuation, with existing staff set to cash in their shares as investor Tiger Global increases its stake in the business.
Revolut, which received its banking licence last month after a three-year wait, said the round was led by new investors Coatue and D1 Capital Partners alongside existing investor Tiger Global, with Morgan Stanley serving as sole placement agent on the transaction.
The increase in Revolut’s valuation stands in stark contrast to other leading fintechs that have struggled to preserve their valuation over the past three years, solidifying the firm’s success as it achieved rapid growth.
CEO Nik Storonsky 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.”
