Revolut seeks valuation of more than €37 billion in employee share sale

UK fintech Revolut is targeting a valuation exceeding $40 billion (€37 billion) in a share sale that would cement its status as Europe’s most valuable start-up, according to three people with knowledge of the plans.

The SoftBank-backed company is working with Morgan Stanley to sell about $500 million worth of existing shares, including those held by employees, the people said.

More than $40 billion would be at least 20 per cent higher than the $33 billion valuation Revolut achieved in a 2021 fundraising. It would surpass the market capitalisation of UK lender NatWest and Paris-based Société Générale, and be on par with that of Lloyds Banking Group.

The ambitious target, if reached, would defy a difficult market for European fintech groups in the past two years. Stockholm-based Klarna, another prominent fintech, saw its valuation crash to $6.7 billion from $46 billion in a 2022 fundraising. Some venture capital investors have since marked down their stakes in Revolut.

Full article available at https://www.irishtimes.com/business/2024/06/20/revolut-seeks-valuation-of-more-than-37-billion-in-employee-share-sale/