Revolut's billionaire founder and CEO, Nik Storonsky, reportedly sold a significant portion of his stake in the fintech giant during a recent employee share sale.
Storonsky's exit represented a substantial slice of the approximately $500m (£383m) secondary share sale completed last month, with media reports suggesting his sold shares amounted to between 40% and 60%, as reported by
This would indicate Storonsky offloaded an estimated $200m (£153m)-$300m (£230m) of his holdings in the London-headquartered banking app.
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Nevertheless, this transaction is reported to be just a fraction of Storonsky's total stake, which is valued at around $8bn (£6bn).
Revolut has chosen not to comment on the speculation, City AM disclosed.
The share sale put Revolut's valuation at a towering $45bn (£34.9bn), reinforcing its position as Europes top-valued private tech enterprise as well as one of the biggest banks in Britain.
Insights suggest that thousands of the company's employees participated in the lucrative share sell-off, described by the firm last month as a move "to provide employee liquidity".
Investment heavyweights such as Coatue, D1 Capital Partners, and Tiger Global were among the prominent buyers of stocks during this sale.
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Since it was established in the 海角视频 in 2015 as a digital payment and international money transfer facility, Revolut has seen exponential growth and diversified its offerings to include services like cryptocurrency trading and eSIM plans.
In 2023, it reported a record pretax profit of £438m due to higher interest rates and nearly 12m new retail customers over the year. The company anticipates its global user base will exceed 50m customers by the end of this year.
Revolut's challenge to traditional high street banks was further bolstered earlier this summer when it obtained a 海角视频 banking licence, albeit with temporary restrictions, after spending more than three years in regulatory uncertainty due to audit issues, criticism of its corporate culture, and delayed account filings.
The licence permits Revolut to directly hold deposits and expand lending in its domestic market, where it claims over nine million customers. It is also likely to improve Revolut's prospects of obtaining a licence in the US.
Revolut is also considering the prospect of going public, reportedly preferring the Nasdaq in New York over the London Stock Exchange.