Challenger bank Revolut has seen its valuation soar to $45 billion following Mubadala’s acquisition of a stake in the company.
According to the Financial Times, the deal will allow Revolut founder Nik Storonsky to earn a minimum of $200 million. In August, Revolut employees sold $500 million worth of shares, with Storonsky representing approximately half of that sale.
Mubadala joined other investors, including DI Capital Partners, Tiger Global, and Coatue, in purchasing shares; however, the exact number of shares acquired by Mubadala and the size of its stake remain unclear. This investment aligns with Mubadala’s increasing focus on European deals, having completed at least 28 transactions in the last five years, which account for a fifth of global activity.
Additionally, Revolut recently obtained a UK banking license after a three-year application process and announced plans to enhance its focus on business banking. The company has also begun applying for banking licenses in the Middle East in recent weeks.