Revolut has kicked off a process for some employees to sell their shares in the company at a $75 billion (€64 billion) valuation.
That secondary sale will value each share at $1,381.06, according to a memo to staff seen by Bloomberg. The company has already fielded demand for the sale from new and existing investors, the memo shows.
The deal will cement Revolut’s status as one of the most valuable fintechs on the planet. It’s up from the $45 billion valuation Revolut received in a secondary share sale last year, and puts the firm’s price tag above the market capitalisation of Barclays, albeit in a private sale rather than on the public markets.
“As part of our commitment to our employees, we regularly provide opportunities for them to gain liquidity,” a spokesperson said in an emailed statement. “An employee secondary share sale is currently in process, and we won’t be commenting further until it is complete.”
London-headquartered Revolut has grown rapidly and served more customers than HSBC last year, helping the British fintech to boost revenue 72% to $4 billion and grow its profit. The firm now has more than 60 million customers.
The digital finance company is pursuing further international growth, exploring hiring investment bankers for a possible acquisition in the US in order to gain a banking licence there, Bloomberg previously reported.
