Revolut Valued at $115 Billion in Secondary Share Sale, Bloomberg Reports

Financial technology company Revolut Ltd. has initiated a secondary share sale that values the firm at $115 billion, according to an internal staff message seen by Bloomberg. The transaction provides an opportunity for employees to sell a portion of their shares.

Details of the Transaction

The secondary sale prices Revolut shares at $2,017 each, the memo stated. Unlike a primary funding round where a company issues new shares to raise capital, a secondary sale allows existing shareholders, in this case employees, to sell their equity to other investors.

In a memo to staff on Wednesday, CEO Nik Storonsky said the company was providing another opportunity for employees to realize liquidity on their shares. He noted that the sale has attracted significant demand from both new and existing investors.

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Investor Confidence and Company Outlook

Storonsky attributed the strong investor interest to the company's performance and momentum over the past year. He cited Revolut's strong business fundamentals and its continued expansion into new markets as key drivers of demand for its shares.

The $115 billion valuation represents a significant benchmark for the private fintech company and reflects high investor confidence in its growth trajectory. Such transactions are common for large, late-stage private companies as a way to reward early employees and investors ahead of a potential initial public offering (IPO).