Revolut staff members could receive significant payouts as the UK-based financial technology company initiates a share sale, raising its valuation by two-thirds to $75 billion (£55 billion).
The transaction, which sets the price per share at $1,381.06, reinforces the company's status as one of the most highly valued financial technology firms globally.
Employees will have the opportunity to sell up to 20% of their personal shares to current and potential investors in the coming weeks, with payouts expected by early autumn.
The share sale, disclosed to employees on Monday, follows Revolut’s reported increase in annual profits by over 150% in 2024, reaching £1 billion. This growth was driven by higher subscriptions and stronger revenues from trading services in wealth management and cryptocurrencies.
Revolut’s founder and CEO, Nik Storonsky, has reportedly gained between $200 million and $300 million due to a previous share sale last summer, which valued the company at $45 billion. If the firm's valuation surpasses $150 billion (£110 billion), Storonsky could see his fortune expand significantly.
A company representative stated, “Consistent with our dedication to employees, we periodically offer liquidity opportunities. An employee share sale is underway, and we will refrain from further comment until its completion.”
While the move benefits long-term employees, it has raised questions about potential delays to Revolut’s expected stock market listing.
Kathleen Brooks, a research director at the brokerage firm XTB, noted, “This could indicate either an imminent public offering or employee concerns about delays, prompting them to sell shares now rather than wait. It’s unfortunate that Revolut does not seem to be planning its IPO in the UK.”
In December, Storonsky suggested that a New York listing could be more favorable due to regulatory conditions and market size. A U.S. listing would be a setback for London’s financial sector, which has seen several companies exit in recent years.
Revolut executives have expressed dissatisfaction with UK regulators for the slow approval of a full banking license, which would enable the company to hold customer deposits and expand into more profitable services like loans and mortgages.
Regulatory concerns included unresolved accounting discrepancies, past compliance issues in the EU, and reputational challenges tied to the company's workplace environment. Revolut maintains that these issues have been resolved, and it has taken steps to improve internal culture.
After a three-year wait, the company received preliminary approval in July 2024 but continues to operate under a restricted banking license in the UK.
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