Revolut Employees and Investors Cash Out Nearly $1 Billion in Stock

Revolut's Stock Sales Reach Nearly $1 Billion Amidst Rapid Valuation Growth

According to a report from Odaily, the fintech company Revolut has seen significant stock sales amounting to nearly $1 billion since August. This surge in transactions follows the company's recent acquisition of a UK banking license, boosting its valuation to an impressive $45 billion.

Extending the Deadline for Secondary Stock Sales

In an effort to accommodate its employees and early investors, Revolut has extended the deadline for its secondary stock sale twice. Initially, the sale permitted only current employees to liquidate their shares, providing an opportunity for early supporters and former employees to sell part of their holdings.

Institutional Investors Join the Fold

The stock sale commenced just a month after Revolut secured its UK banking license, a milestone that attracted various institutional investors. Among them is Mubadala, Abu Dhabi's sovereign wealth fund, marking their inaugural investment in the fintech giant.

Financial Insights on Revolut's Founder

Reports indicate that Nik Storonsky, the founder and CEO of Revolut, earned a staggering sum between $200 million and $300 million during the first round of financing. Additionally, early venture capital investors reportedly cashed out approximately $500 million in the second round of sales, contributing to the total sales amount that is expected to exceed $1 billion.

No Comment from Revolut

Despite the notable developments surrounding the stock sales and the company's valuation, Revolut has declined to provide any official comments on these occurrences.

Conclusion

Revolut's rapid growth and the interest from institutional investors highlight the company's strong position in the fintech landscape. As the stock sales unfold, it remains to be seen how this will affect the company's future strategy and market presence.