{"id":15497,"date":"2024-08-16T13:55:20","date_gmt":"2024-08-16T13:55:20","guid":{"rendered":"http:\/\/TheNextWeb=1409405"},"modified":"2024-08-16T13:55:20","modified_gmt":"2024-08-16T13:55:20","slug":"45b-valuation-revolut-becomes-europes-most-precious-private-tech-firm","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=15497","title":{"rendered":"$45B valuation \u2014 Revolut becomes Europe\u2019s most precious private tech firm"},"content":{"rendered":"\n

UK fintech<\/a> Revolut has been valued at $45bn following a share sale by employees, making it Europe\u2019s most valuable private tech company and shaking up the world of traditional finance. <\/span><\/p>\n

An employee share sale is when staff sell their company shares either to the company they work for, external investors, or on the open market. In Revolut\u2019s case, its employees sold a portion of their shares to investors including <\/span>Coatue, D1 Capital Partners, and Tiger Global, among others.  <\/span><\/p>\n

Revolut\u2019s new valuation puts it above the market capitalisation of most of Britain\u2019s oldest banks, including Barclays, Lloyds Bank, and NatWest. Only HSBC is valued higher. Investors in Revolut are clearly confident that the neobank has much better growth prospects than many traditional lenders.<\/span><\/p>\n

Nik Storonsky, Revolut\u2019s CEO, said he was \u201cdelighted\u201d that his employees could realise the benefits of the company\u2019s \u201ccollective success\u201d via the share sale. \u201cWe\u2019re also excited to partner with several new investors who share our vision as we continue our journey to redefine the banking landscape as we\u2019ve known it,\u201d he said.<\/span><\/p>\n

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The fresh valuation comes at a good time for Revolut. Last month, the company finally <\/span>secured its UK banking licence<\/span><\/a>, which allows it to provide overdrafts, loans, and savings products \u2014 just like traditional banks. <\/span>In 2023, Revolut reported revenues of $2.2bn and says it is on track to surpass 50 million customers by the end of this year. <\/span><\/p>\n

The news comes as Revolut gears up for its highly-anticipated IPO. While the British business has yet to set a date for its debut on the public market, co-founders Storonsky and Vlad Yatsenko previously indicated that they would likely list in New York. However, a listing in London is still possible, the <\/span>Financial Times<\/span><\/a> reports. <\/span><\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UK fintech Revolut has been valued at $45bn following a share sale by employees, making it Europe\u2019s most valuable private tech company and shaking up the world of traditional finance.  An employee…<\/p>\n","protected":false},"author":1,"featured_media":15498,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/15497"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15497"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/15497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/15498"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}