Revolut’s founder, Nik Storonsky, has garnered a significant personal gain of £350 million through a series of share sales in the rapidly expanding fintech company.
Reports from Sky News indicate that Storonsky has divested over £350 million in stock as part of a continuing secondary share sale initiative. Insiders close to Revolut have suggested that the total amount he receives could climb even higher upon the completion of this round of sales.
Last autumn, it came to light that Storonsky was in the process of selling up to $300 million in shares, initially limited to current employees of the company. The opportunity was later broadened to include early investors, resulting in total sales for this round surpassing $1 billion, according to sources familiar with the matter.
Revolut recently reported record earnings of £438 million for the previous year, with revenues nearly doubling to £1.8 billion. This fintech super app has been making inroads into various sectors of financial services and currently holds a valuation of $45 billion.
Looking ahead, Revolut has outlined ambitious plans for 2025, including the rollout of an AI assistant, mortgage offerings, ATMs, and a business credit product. In addition, the company is actively recruiting to facilitate an aggressive expansion into the private banking sector.