Founder and CEO of fintech giant Revolut, Nik Storonsky, has reportedly sold shares worth up to $300 million (£230 million) in the company.
In June 2024, Revolut was in discussions with Morgan Stanley to sell $500 million in shares, aiming for a valuation of $40 billion.
Last month, Storonsky sold 40-60% of his Revolut stock in a secondary share sale, valued between $200 and $300 million. This transaction, which involved staff shares and was led by D1 Capital Partners, Tiger Global, and Coatue, aimed to provide liquidity for employees. The secondary sale resulted in a valuation of $45 billion.
Additionally, in July 2024, Revolut finally obtained its UK banking licence after three years of navigating compliance and regulatory challenges.