Revolut announced that a secondary stock sale that gave employees stock liquidity has valued the company at $45 billion.
The round was led by investors Coatue, D1 Capital Partners and Tiger Global, according to a statement. Morgan Stanley acted as exclusive placement agent for the transaction.
The new valuation is higher than the $33 billion Revolut raised in 2021. Unlike many of its fintech rivals, Revolut hasn’t had to raise capital in recent years, allowing it to avoid the sharp declines in valuation that many of its peers suffered as high interest rates forced investors to reconsider backing the sector.
Klarna Bank, for example, was valued at $6.7 billion in a 2022 funding round, a far cry from the $45.6 billion valuation it received from investors just a year earlier. The Stockholm-based company is also in early-stage talks with investors to gauge their interest in buying up its existing shares in the secondary market.
Revolut’s announcement caps off talks with investors about selling about $500 million of its existing shares, Bloomberg News previously reported, and comes just weeks after the company received a long-awaited banking license from U.K. regulators.
Philippe Lafont, founder and portfolio manager of the investment firm, said in a statement that Coats has “high conviction” in investing in Revolut. Revolut Chief Executive Nick Storonski said the company is “pleased” to be able to provide liquidity to its employees.
— Aisha S. GhaniBloomberg News)
