Fintech firm Revolut has launched a share sale that has pushed its valuation up by two-thirds to $75 billion (£55 billion), resulting in its employees receiving a payout.
Due to the firm’s equity programme, Revolut employees will be allowed to sell up to 20% of their personal share scheme holdings to new and existing investors over the coming weeks. Payouts will likely follow in the early autumn.
The secondary share sale, which prices each share at $1,381.06 (£1,030.51), was announced to staff this week. It follows Revolut boosting its annual profits by more than 150% in 2024 to £1 billion, due to an increase in subscriptions and revenues from its wealth and crypto trading divisions.
Nik Storonsky, founder and chief executive of Revolut, has already received between $200 million (£149.2 million) and $300 million (£223.8 million) as a result of a separate share sale that valued the firm at $45 billion (£33.5 billion) last summer. If the firm’s valuation goes past $150 billion (£110 billion), he could receive a multibillion-dollar fortune.
A Revolut spokesperson said: “As part of our commitment to our employees, we regularly provide opportunities for them to gain liquidity. An employee secondary share sale is currently in process, and we won’t be commenting further until it is complete.”
Revolut also offers its employees flexibility to work from home or the office, the chance to work abroad for 120 days a year, financial benefits, a paid birthday day off, engagement trips, and social meet-ups throughout the year.
