Revolut Ltd. closed a secondary share sale that pegs the firm's value at $115 billion. The London-based fintech, founded in 2015, outlined the transaction in a Wednesday statement.
Because it was a secondary deal, no new shares were created. Instead, some current investors - including employees - sold stock to other buyers.
The lead group included Glade Brook Capital Partners, Coatue, Durable Capital Partners, Baillie Gifford, along with client portfolios overseen by T. Rowe Price Associates Inc.
"Employee ownership has been central to our culture from day one," chief executive officer Nik Storonsky said. "That's why we've once again given them the chance to share in the value they've created."
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Revolut has expanded to rank among the biggest and most rapidly growing fintech companies worldwide. Its prior raise, finished not quite a year earlier, valued the company at $75 billion. Storonsky has signaled that an IPO for Revolut wouldn't come before 2028, with a dual listing that would see the stock trade in the UK as well as the US.
The bottom line: this sets a fresh private-market reference point at $115 billion while the company remains on a path that includes a potential listing further out.
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