Revolut employees are set for significant payouts after the UK fintech firm launched a secondary share sale that has pushed its valuation up by two-thirds to US$75bn (£55bn).
The sale, which prices each share at US$1,381.06, reinforces Revolut’s position as one of the world’s most valuable fintech firms, according to The Guardian.
Employees can sell up to 20% of their personal holdings to new and existing investors in the coming weeks, with payouts expected in early autumn.
The announcement follows a report that Revolut’s annual profits more than doubled in 2024 to £1bn, driven by growth in subscriptions and revenue from its wealth and crypto trading divisions.
Revolut’s founder and CEO, Nik Storonsky, reportedly earned US$200m–US$300m from a separate share sale that valued the company at US$45bn last summer and could amass a multibillion-dollar fortune if the fintech reaches a valuation of US$150bn (£110bn).
A Revolut spokesperson said:
“As part of our commitment to our employees, we regularly provide opportunities for them to gain liquidity. An employee secondary share sale is currently in process, and we won’t be commenting further until it is complete.”
The timing of the sale has prompted speculation that Revolut’s long-awaited stock market debut may be delayed.
Kathleen Brooks, Research Director at online broker XTB, said:
“This could be a sign that the company will either IPO soon or that its employees are getting antsy about the lack of an IPO and want to release their equity in the firm rather than wait for the IPO. Whatever this move signals, it is a deep shame that Revolut is not planning to IPO in the UK.”
Storonsky suggested last December that New York could be a better fit for an IPO due to the regulatory environment and market size, a move that would be a blow to the City and the London Stock Exchange, which has seen a growing number of defections.
Revolut has faced delays from UK regulators in obtaining a full banking licence, which would allow it to hold customer deposits and expand into loans and mortgages.
The company has said it has addressed previous accounting issues, EU regulatory breaches, and concerns over its corporate culture.
It waited three years for initial approval, finally receiving it in July 2024, and has since remained on a restricted UK banking license.
Earlier this year, Chancellor Rachel Reeves sought meetings with regulators amid the delay but was blocked by Bank of England Governor Andrew Bailey, who cited concerns over potential government interference in an independent process.
Featured image credit: Edited by Fintech News Switzerland, based on image by altumcode via Unsplash
