British-Ukrainian company Revolut sold shares worth over $1 billion
Revolut, an international fintech company with Ukrainian roots, has sold over $1 billion in shares since August 2024.
Revolut, an international fintech company with Ukrainian roots, has sold over $1 billion in shares since August 2024.
In June, Revolut, one of Europe's most valuable startups, began working with banking holding company Morgan Stanley on a share sale to free up cash for employees and early investors.
In total, Revolut has twice continued the so-called secondary share sale, which initially allowed only current employees to sell shares, to allow some of its early investors and former employees to cash out some of their securities, NV Business reports , citing the Financial Times.
The share sale attracted many institutional investors, including Abu Dhabi-based Mubadala, which acquired a stake in Revolut for the first time.
“The scale of the sale… underlines Revolut’s ascent from fintech newcomer to serious competitor in the banking market,” the FT writes.
The company's current valuation is around $45 billion.
Revolut
The startup was founded in 2015, with Ukrainian Vlad Yatsenko among the founders. The headquarters are located in London.
In 2020, Revolut entered the Japanese and US markets and increased its staff from 1,500 to 6,000 people. In November 2020, the company, with a valuation of £4.2 billion, became the UK's most valuable fintech company.
In May, the company launched its own crypto exchange. In addition, the company intends to issue its own stablecoin .
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