Fintech giant Revolut’s founder and chief executive Nik Storonsky has reportedly sold shares in the company worth up to $300m (£230m).
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In June 2024, Revolut was in talks with Morgan Stanley to sell $500 million worth of shares, reaching a valuation of $40 billion.
Last month, Storonsky sold 40-60% of Revolut shares in a secondary share sale worth $200 million to $300 million. According to the company, the secondary sale of employee shares led by D1 Capital Partners, Tiger Global and Coatue was intended to provide liquidity to employees. The secondary sale resulted in a valuation of $45 billion.
In July 2024, Revolut finally received its UK banking license after struggling with compliance and regulatory requirements for three years.