Dec 16, 07:08 AM

Revolut Staff and Investors Offload Nearly $1B in Stock at $45B Valuation Following Banking License Approval

Revolut, the London-based fintech company, has seen significant stock offloading by its staff and early investors, totaling nearly $1 billion since August 2024. This secondary sale occurred after the UK granted the company its banking license, which has been a pivotal moment for its growth. The stock was sold in multiple tranches, valuing the company at approximately $45 billion. Notably, founder Nik Storonsky reportedly realized between $200 million to $300 million in the first round of this stock sale. Additionally, Revolut is set to expand its operations in Italy, aiming to serve four million customers by 2025. The company has positioned itself as a leading player in the fintech sector, with statements likening it to 'the Apple of banks' by its executives. In related news, Upvest, a stock trading API utilized by Revolut, recently raised $105 million.

#Revolut #UK #Nik Storonsky #Italy #Apple #Upvest

Written with ChatGPT (GPT-4o mini).

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Revolut Staff and Investors Offload Nearly $1B in Stock at $45B Valuation Following Banking License Approval

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