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Revolut Surges to $45B, Rewards Employees with Equity
Revolut, a leading fintech company, recently announced a secondary share sale to provide liquidity to its employees. This move rewards the hard work and dedication of Revolut’s workforce as the company continues to expand and thrive.
With a valuation of $45 billion, Revolut has solidified its position as Europe’s most valuable private technology company. The secondary share sale attracted significant interest from top-tier investors, including Coatue, D1 Capital Partners, and Tiger Global. This investment reflects strong confidence in Revolut’s future growth and strategic direction.
Revolut’s financial performance has been impressive. In 2023, the company reported a 95% increase in revenue to $2.2 billion and a pre-tax profit of $545 million. This momentum has continued into 2024, with revenues growing over 80% year-over-year and further improvements in profitability. As a result, Revolut is on track to reach a customer base of over 50 million by the end of the year.
Revolut’s success is driven by its innovative offerings, such as the RevPoints Loyalty Programme, eSIMs, and the Revolut X crypto exchange. The company has also expanded its geographic reach with banking licenses in Mexico and the UK.
Nik Storonsky, CEO of Revolut, expressed his enthusiasm for the share sale, emphasizing the importance of recognizing and rewarding employee contributions.
“We’re delighted to provide the opportunity to our employees to realise the benefits of the company’s collective success. It’s their hard work, innovation, and dedication that has driven us to become the most valuable private technology company in Europe. We’re also excited to partner with several new investors who share our vision as we continue our journey to redefine the banking landscape as we’ve known it.”
Philippe Laffont, Founder and Portfolio Manager at Coatue, echoed this sentiment, highlighting Revolut’s ability to scale globally and its commitment to financial inclusion and innovation.
The secondary share sale, facilitated by Morgan Stanley, is a significant milestone for Revolut. It demonstrates the company’s strong financial health, investor confidence, and commitment to rewarding its employees. As Revolut continues to grow and innovate, it is well-positioned to redefine the banking landscape and provide exceptional financial services to its customers worldwide.
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