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Insider: Revolut Launches Employee Secondary Share Sale, Company Valuation Reaches $75 Billion
BlockBeats News, September 2nd. According to Reuters, sources revealed on Monday that the UK financial technology giant Revolut has launched an employee secondary stock sale, pushing its valuation to $75 billion. The London-based company is ramping up its expansion efforts to challenge larger traditional banks.
A Revolut spokesperson stated in an email on Monday: "The employee secondary stock sale is ongoing, and we will not offer further comment until it is completed." Bloomberg News reported that this round of transactions priced Revolut at $1381.06 per share.
In April of this year, the fintech company reported over double its annual profit, largely driven by strong cryptocurrency trading, interest income, and card fees, and indicated plans to operate as a UK bank starting this year.
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