09/16/2024 – 20:08
Revolut announced it has completed a secondary sale of shares in a transaction that gives the London-based global financial technology company a market value of $45 billion.
The secondary share sale will provide liquidity to employees, enabling them to realise their contribution to Revolut’s growth, the company said in a statement published today.
The statement said the offering was led by Coatue, D1 Capital Partners and existing investor Tiger Global. Morgan Stanley acted as sole bookrunner for the transaction.
According to the Financial TimesMubadala, the investment vehicle of Abu Dhabi’s sovereign wealth fund, would be among the investors, taking a stake in Revolut.
In 2023, Revolut reported revenues of $2.2 billion, up 95% year-on-year, and a record pre-tax profit of $545 million, the statement said. The company secured a banking license in Mexico, followed by the granting of its U.K. banking license — with restrictions — in July.
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