Fintech
Revolut could reach $45 billion valuation after share sale
Revolution It is said to be preparing a stock sale that would value it at $45 billion.
The British FinTech is close to a deal that would see it sell approximately 500 million dollars in employee-owned shares, the Wall Street Journal (WSJ) reported Tuesday (July 23), citing people familiar with the matter.
The report noted that the sale is an indicator of growing confidence in the FinTech sector.
Revolut is already the second most valuable FinTech startup in the world, next to Bandand this sale would increase its valuation by more than a third.
The Financial Times (FT) had reported whispers of a stock sale last month. Separate reports said the CEO Nikolai Storonsky was selling a “small portion” of his stake in the company as part of that stock sale.
Contacted by PYMNTS, Revolut declined to comment.
The sale, if completed, could be announced in the coming days and would set the stage for an initial public offering (IPO), the WSJ reported.
Assuming Revolut is ready to go public, it is not a given that the company will do so in its home country, as its chairman claims. Martin Gilbert said earlier this month that it was not ready to commit to an IPO in London, while praising pending changes to the rules for listing on the UK market.
“All the moves [regulators] they’re doing well, they’re allowing founder-led companies like Revolut to list here rather than having no choice,” Gilbert said. “But let’s see how it plays out again, the test will definitely be what happens in the future.”
He added that Revolut would be listed on the stock exchange at least a year from now, and that the company planned to “keep an open mind” about where the listing would take place.
The comments marked a shift from views expressed by Storonsky, who had ruled out a London IPO. Revolut’s UK CEO, Francesca Carlesihad indicated that a London listing was still possible earlier this year.
“The UK is our home and it is also a place where a many of our investors “They come from,” Carlesi said. “We know that companies are always better at listing where their largest market is.”
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