Founder and chief exec at fintech giant Revolut, Nik Storonsky, has reportedly sold shares worth up to $300 million (£230 million) in the company.
In June 2024, Revolut was in talks with Morgan Stanley to sell $500 million in shares, and hit a valuation of $40 billion.
Last month, Storonsky sold 40-60% of Revolut stock in a secondary share sale, which was worth between $200 and $300 million. The secondary sale of staff shares led by D1 Capital Partners, Tiger Global, and Coatue, was to provide employee liquidity according to the company. The secondary sale led to a valuation of $45 billion.
In July 2024, Revolut finally won its UK banking licence after three years of hassle on compliance and regulatory demands.