Fintech
Revolut CEO to sell part of stake in $500 million stock sale
July 08, 2024
Written by FinTech Alliance in Financial Technology
Revolut CEO Nikolay Storonsky plans to sell part of his stake in a $500 million stock sale, aiming to reach a valuation of $40 billion.
The move follows a significant increase in the company’s revenues, which nearly doubled to £1.8 billion in 2023, driven by rising interest income. Despite regulatory scrutiny and ongoing efforts to secure a UK banking license, Revolut remains optimistic about its growth and future stock market listing.