Fintech VC Molten Ventures has seen the value of its £7 million initial stake in Revolut boosted to £160 million following the recent share sale which valued the SuperApp at $45 billion.
In June last year Molten Ventures wrote down its holding in Revolut by 40% amidst market concerns over the fintech's strugggles to win a UK banking licence and the path to profitability.
This action reduced the value of the firm's stake stake in Revolut from £91.3m in March 2022 to £54.5m at the end of March 2023.
However, the tide has now turned firmly in Revolut's favour, with $545 million in pre-tax profit booked for 2023 and the banking licence finally secured.
Martin Davis, Molten's chief executive, says: "Revolut has recently gone from strength to strength. It is great to see the business able to reward its people for their contribution to its growth, and at a valuation which provides significant upside to our own.
"This shows the benefit to our investors of the prudent approach we take to NAV and we look forward to updating on the precise uplift in more detail when we next report results."