Key Takeaways:
- Revolut is negotiating a $500 million employee share sale with Greenoaks, aiming to boost its valuation to $45 billion.
- The company plans to enhance its valuation ahead of a potential IPO, leveraging its recent launch of a dedicated cryptocurrency exchange.
- This transaction offers liquidity to early employees amid a challenging IPO environment due to rising interest rates.
Revolut, a London-based fintech company, is in discussions with investment firm Greenoaks to facilitate a $500 million sale of employee shares.
This deal aims to increase Revolut’s valuation to $45 billion, potentially paving the way for an initial public offering (IPO).
Exclusive: Bank disruptor Revolut is nearing a deal to sell about $500 million worth of employee-owned shares at a valuation of $45 billion https://t.co/TqC82Ng2hL https://t.co/TqC82Ng2hL
— The Wall Street Journal (@WSJ) July 23, 2024
Revolut, known for integrating cryptocurrency trading into its app and recently launching a dedicated cryptocurrency exchange, seeks to enhance its valuation ahead of the IPO.
The transaction would offer liquidity to early employees who received shares as part of their compensation, which they can cash out when the company goes public.
Our 2023 Annual Report is here! (Thread) 🧵
— Revolut (@RevolutApp) July 2, 2024
1. Thanks to your trust and support, Revolut is the most downloaded finance app in the UK and Europe 🚀 pic.twitter.com/wlQ9dgibOH
This move comes amidst a challenging IPO environment due to rising interest rates, providing a strategic advantage for Revolut.
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