Revolut Rejects $65 Billion Valuation Offer as CEO Increases Stake
Hey Digital Banking Fanatic!
Revolut reportedly turned down investor interest that could have valued the company at approximately $65 billion.
Earlier this year, an investor offered to purchase hundreds of millions of secondary shares from early backers at that high valuation, according to Axios.
The report also noted that Revolut CEO Nik Storonsky increased his stake to 25% after acquiring additional shares following a cap table reorganization earlier this month. Storonsky had previously been one of the sellers in last year’s secondary sale, which valued the startup at $45 billion.
This development came just ahead of Revolut’s announcement of $4 billion in revenue and $1 billion in net income for 2024, doubling from the previous year.
So far, the highest valuation for Revolut came in February when investors proposed another secondary share sale that could have valued the company at $60 billion, but this did not move forward.
On a side note, I recently shared a video of a ATM gold machine in a Shanghai mall. Users can deposit gold jewellery and receive payment in 15 minutes (see post here).
A FinTech enthusiast liked the idea and wants to launch something similar in his country! I’d love to help—does anyone know the provider of these machines? Drop the name in the comments or DM me.👇
Read all the other Digital Banking industry news below 👇 and I'll be back with more on Monday!
Cheers,
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🇬🇧 Revolut rebuffs investors. The company recently rejected investor interest that would have given it around a $65 billion valuation. It required the company's go-ahead, which Revolut denied. The neobank was last valued at $45 billion via a 2024 secondary sale. Read more
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