Revolut has signed secondary share sale agreements with investors.
Under the mentioned agreements the specified fintech company, based in the United Kingdom, was valued at $45 billion. In a press release Revolut, which was made public on Friday, August 16, it is noted that the firm has decided on a secondary sale of shares to provide liquidity to employees and to attract new and existing investors.
Chief executive officer of the company Nik Storonsky stated that Revolut is delighted to provide its employees with the opportunity to appreciate the benefits of collective success. In this context, he also noted that it is their hard work, innovation, and dedication that has enabled the firm to become the most valuable private technology brand in Europe. Moreover, Nik Storonsky stated that the company is excited to collaborate with new investors who share its vision. He also stated that Revolut continues its journey to redefine the banking landscape.
The company attributes its valuation to its financial performance in recent quarters, which includes revenue of $2.2 billion in 2023, a 95% increase over 2022, and a pre-tax profit of $545 million, a record for the firm.
In a press release published on Thursday, Revolut recorded annual revenue growth of more than 80%, improved profitability, and raised its customer base to more than 50 million people.
In the current year, the company secured a banking license in Mexico and was granted a banking license in the United Kingdom. The firm also launched the RevPoints Loyalty Program, eSIMs, and the Revolut X crypto exchange.
