Revolut boss set for bumper payday as valuation swells to $75bn
The boss of Revolut is set for a bumper payday as the fintech juggernaut kicks off a secondary share sale valuing the firm at $75bn (£55.9bn).
London-based staff will be able to sell up to 20 per cent of their stake in the digital bank, Bloomberg first reported. Shares will be valued at $1,381.06 (£1,029).
The deal will mark a significant increase from Revolut’s previous price tag of $45bn, which it achieved last year.
A spokesperson for Revolut said: “An employee secondary share sale is currently in process, and we won’t be commenting further until it is complete.”
The hefty valuation increase would put Nik Storonsky, the fintech’s chief executive, in line for a major payout.
Storonsky is understood to have a pay package that bears similarities to Tesla Tycoon Elon Musk’s.
Should Revolut hit all its targets, the total number of shares available to Storonsky could be as much as ten per cent of the company, the Financial Times reported earlier this year.
The package includes gradual pay bumps to Storonky’s takings, as Revolut hits higher valuation milestones.
Revolut boss cold on London IPO
The secondary share sale allows private companies to attract new investors without issuing new stock.
Revolut is part of a fleet of fintech firms which have opted to stay private due to the subdued public markets.
Earlier this year, buy now, pay later giant Klarna put its planned float in New York on ice after Trump’s tariffs disrupted market stability.
Storonsky has long been critical of a listing in London, which has left little hope Revolut will look to the City when it opts to float.
The fintech chief said a London listing was “not rational” when compared with the deeper liquidity offered overseas.
Revolut has also faced a series of headaches in the UK in pursuit of its banking licence, leading to the firm’s boss lambasting the country’s “bureaucracy”.