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Insider: Revolut Launches Employee Secondary Share Sale, Company Valuation Reaches $75 Billion

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September 2nd. According to Reuters, sources disclosed on Monday that the UK financial technology giant Revolut has initiated an employee secondary stock sale, which has boosted its valuation to $75 billion. The London-based company is intensifying its expansion efforts in order to challenge larger traditional banks. A Revolut spokesperson stated in an email on Monday: "The employee secondary stock sale is in progress, and we will not provide any further comments until it is completed." Bloomberg News reported that in this round of transactions, Revolut was priced at $1381.06 per share. In April of this year, the fintech company reported that its annual profit more than doubled, mainly driven by strong cryptocurrency trading, interest income, and card fees, and it indicated plans to operate as a UK bank starting from this year.

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