Revolut, the British financial technology company, announced a secondary sale of employee shares, expected to raise about $500 million for staff, that valued the business at $45 billion, the company confirmed. The transaction, in which existing shareholders sold stock to new investors rather than the company issuing new primary shares, marked Revolut's first equity transaction in three years and established it as Europe's most valuable private technology company at the time of the announcement.
The share sale came weeks after Revolut received its restricted UK banking licence in July 2024.
ANNUAL RESULTS
The company had reported what it described as record annual profits in April.
UK BANKING LICENCE
The restricted UK banking licence was granted by the Prudential Regulation Authority in July 2024. Prior to the licence, Revolut operated in the United Kingdom under an e-money institution authorisation.
No formal IPO timeline has been announced.
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