Report: Revolut CEO Nikolay Storonsky to sell portion of stake. Get the details on PYMNTS: https://lnkd.in/e6Kukpxs
PYMNTS’ Post
More Relevant Posts
-
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: The founder of Revolut is to cash in part of his multibillion dollar stake in the company as part of a $500m (£391m) share sale. Sky News has learnt that Nik Storonsky, who is the FinTech giant's chief executive, plans to offload stock worth tens or even hundreds of millions of dollars in the secondary deal in the coming weeks. City sources said the size of his disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company and its advisers, Morgan Stanley. The exact size of Mr Storonsky's stake is unclear although at the $40bn (£31bn) valuation that Revolut hopes to attract, it would be worth several billion dollars. More info in the source article: https://lnkd.in/e4nm7Xzg Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: The founder of Revolut is to cash in part of his multibillion dollar stake in the company as part of a $500m (£391m) share sale. Sky News has learnt that Nik Storonsky, who is the FinTech giant's chief executive, plans to offload stock worth tens or even hundreds of millions of dollars in the secondary deal in the coming weeks. City sources said the size of his disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company and its advisers, Morgan Stanley. The exact size of Mr Storonsky's stake is unclear although at the $40bn (£31bn) valuation that Revolut hopes to attract, it would be worth several billion dollars. More info in the source article: https://lnkd.in/e4nm7Xzg Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
To view or add a comment, sign in
-
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: The founder of Revolut is to cash in part of his multibillion dollar stake in the company as part of a $500m (£391m) share sale. Sky News has learnt that Nik Storonsky, who is the FinTech giant's chief executive, plans to offload stock worth tens or even hundreds of millions of dollars in the secondary deal in the coming weeks. City sources said the size of his disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company and its advisers, Morgan Stanley. The exact size of Mr Storonsky's stake is unclear although at the $40bn (£31bn) valuation that Revolut hopes to attract, it would be worth several billion dollars. More info in the source article: https://lnkd.in/e4nm7Xzg Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: The founder of Revolut is to cash in part of his multibillion dollar stake in the company as part of a $500m (£391m) share sale. Sky News has learnt that Nik Storonsky, who is the FinTech giant's chief executive, plans to offload stock worth tens or even hundreds of millions of dollars in the secondary deal in the coming weeks. City sources said the size of his disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company and its advisers, Morgan Stanley. The exact size of Mr Storonsky's stake is unclear although at the $40bn (£31bn) valuation that Revolut hopes to attract, it would be worth several billion dollars. More info in the source article: https://lnkd.in/e4nm7Xzg Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
To view or add a comment, sign in
-
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: The founder of Revolut is to cash in part of his multibillion dollar stake in the company as part of a $500m (£391m) share sale. Sky News has learnt that Nik Storonsky, who is the FinTech giant's chief executive, plans to offload stock worth tens or even hundreds of millions of dollars in the secondary deal in the coming weeks. City sources said the size of his disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company and its advisers, Morgan Stanley. The exact size of Mr Storonsky's stake is unclear although at the $40bn (£31bn) valuation that Revolut hopes to attract, it would be worth several billion dollars. More info in the source article: https://lnkd.in/e4nm7Xzg Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
To view or add a comment, sign in
-
Thought leader at intersection of consumer finance and technology helping fintechs, banks and credit unions make optimal decisions. Podcast host, public speaker, startup advisor, mentor and coach.
Revolut seeks $40bn valuation through share sale – FT "...Sources with knowledge of the plans told the FT that the fintech is working with Morgan Stanley to sell about $500 million worth of existing shares, including those held by employees, to reach this valuation. This comes after an investor revaluation earlier this year placed Revolut’s valuation at $25.7 billion, which was still down from its 2021 valuation of $33 billion..." #valuation #sharesale #neobank Financial Times Finextra _________________________________ If you want to immediately see new content that I curate 👉🏻 Ring my bell (🔔) and follow #informationbanker or if you want to get the posts that got noticed in my weekly What’d I miss newsletter, subscribe here: "https://lnkd.in/d5_KvWwu"
Revolut seeks $40bn valuation through share sale – FT
finextra.com
To view or add a comment, sign in
-
UK fintech group Revolut has had its implied valuation increased by 45% to $25.7 billion (£20.6 billion) by minor shareholder Schroders, Bloomberg has reported. A fund managed by Schroders wrote up its stake in the unlisted British payment disruptor from £5.44 million to £7.88 million. Though only a minor stakeholder, it is a shot of good news as Revolut aims to reclaim its peak $33 billion valuation achieved in a major funding round in 2021. The Schroders fund said Revolut had made “solid progress” on its expansion plans despite higher interest rates impacting high-growth companies in the past two years. In March, Revolut boss Francesca Carlesi left the door open for a debut on the London Stock Exchange, though no concrete plans have been announced. Per the latest Companies House filings, Revolut generated £744 million worth of revenues in the year ending 31 December 2022 on an 82% gross profit margin. Losses... More at #Proactive #ProactiveInvestors http://ow.ly/Rask105pvAc
To view or add a comment, sign in
-
Challenger/Neobank Journalist ✒️ Stay up to date with the hottest news about Starling, Revolut, Monese and others 🔥 Follow me 📣 I talk about #fintech, #banking, #fintechstartup, #fintechnews, and #banks.
🤝 Revolut collaborates with SoftBank Group Corp. 🤝 Revolut, the UK's most valuable fintech, is one step closer to securing a long-awaited banking license in its home market. After months of negotiations, the two giants have reached an agreement to simplify Revolut's ownership structure, a critical step in fulfilling the Bank of England's conditions for granting the license. 📝 This milestone, known internally as "Project Swan," removes a significant obstacle on Revolut's path to becoming a full-fledged bank in the UK. SoftBank, Revolut's largest investor, has been instrumental in this process, and while their demands were substantial, the agreement doesn't involve any new shares or have a financial impact on Revolut. But that's not all; other investors, including: 💠Tiger Global Management, 💠TCV, 💠Balderton Capital, 💠Ribbit Capital, These companies are also in the final stages of transferring their shares into a single class. This collective effort underscores Revolut's commitment to meeting the regulatory requirements necessary for its growth. As many of you know, SoftBank played a pivotal role in Revolut's journey, leading an $800 million fundraising round in 2021 that valued the company at $33 billion. Revolut's co-founder, Nik Storonsky, personally appealed to SoftBank's chief, Masayoshi Son, emphasising the importance of obtaining this license to support the company's impressive valuation and future growth. While this agreement is a significant step forward, there are still challenges ahead that should be highlighted, including ensuring clean and timely financial accounts and addressing system issues. However, Revolut remains dedicated to overcoming these obstacles and expanding its services, ultimately benefiting customers worldwide. 🔰 How do you think Revolut could overcome these challenges, #fintechs? #Fintech #Banking #Revolut #FinancialInnovation
To view or add a comment, sign in
-
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Employees at FinTech giant Revolut to cash in with $500m share sale. Bosses at Revolut, Britain's biggest FinTech, are drawing up plans to allow employees to cash in with a sale of stock valued at hundreds of millions of pounds. Sky News has learned that the banking and payments services provider is lining up investment bankers to coordinate a secondary share sale worth in the region of $500m (£394m). Morgan Stanley, the Wall Street bank, is expected to be engaged to work on the proposed stock offering, which will take place later this year. City sources said this weekend that Nik Storonsky, Revolut's co-founder and chief executive, was determined to seek a valuation of at least the $33bn (£26bn) it secured in a primary funding round in 2021. "This will not be a down-round," said one person familiar with Revolut's thinking. Read more: https://lnkd.in/eQBKnvpA Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]
To view or add a comment, sign in
-
Exciting news for Revolut & the fintech industry as they team up with SoftBank Group Corp. to simplify their ownership structure, a key milestone on the path to securing a UK banking license. This collective effort showcases their dedication to meeting regulatory requirements & driving growth, with many more promising developments on the horizon. Thanks Oliver Turn for sharing! 🚀 Explore Fintech! 🌐 If you love this content, follow for daily financial innovation. 🔔 Stay tuned—hit the bell for more #FintechInsights. ✨ Share, comment, and let's chat!👋 #FintechCommunity #FollowForUpdates #EngageWithUs 🚀 #Fintech #BankingLicense #Revolut #SoftBank #RegulatoryCompliance #FinancialServices #Investment #TechNews #FinancialInnovation #BusinessGrowth #DigitalRevolution #NeoBanks #Innovation #Technology #Startups #Fundraising #BankingRevolution #FintechFrontiers #DigitalDisruption #FinanceFrenzy #AgileBanking #FutureFinance #DigitalTransformation #MoneyMovers #challengerbanks #digitalbanking #traditionalbank #mobilebanking #financialecosystem https://lnkd.in/d-HjJ6Wh
Challenger/Neobank Journalist ✒️ Stay up to date with the hottest news about Starling, Revolut, Monese and others 🔥 Follow me 📣 I talk about #fintech, #banking, #fintechstartup, #fintechnews, and #banks.
🤝 Revolut collaborates with SoftBank Group Corp. 🤝 Revolut, the UK's most valuable fintech, is one step closer to securing a long-awaited banking license in its home market. After months of negotiations, the two giants have reached an agreement to simplify Revolut's ownership structure, a critical step in fulfilling the Bank of England's conditions for granting the license. 📝 This milestone, known internally as "Project Swan," removes a significant obstacle on Revolut's path to becoming a full-fledged bank in the UK. SoftBank, Revolut's largest investor, has been instrumental in this process, and while their demands were substantial, the agreement doesn't involve any new shares or have a financial impact on Revolut. But that's not all; other investors, including: 💠Tiger Global Management, 💠TCV, 💠Balderton Capital, 💠Ribbit Capital, These companies are also in the final stages of transferring their shares into a single class. This collective effort underscores Revolut's commitment to meeting the regulatory requirements necessary for its growth. As many of you know, SoftBank played a pivotal role in Revolut's journey, leading an $800 million fundraising round in 2021 that valued the company at $33 billion. Revolut's co-founder, Nik Storonsky, personally appealed to SoftBank's chief, Masayoshi Son, emphasising the importance of obtaining this license to support the company's impressive valuation and future growth. While this agreement is a significant step forward, there are still challenges ahead that should be highlighted, including ensuring clean and timely financial accounts and addressing system issues. However, Revolut remains dedicated to overcoming these obstacles and expanding its services, ultimately benefiting customers worldwide. 🔰 How do you think Revolut could overcome these challenges, #fintechs? #Fintech #Banking #Revolut #FinancialInnovation
To view or add a comment, sign in
-
🤝 Revolut collaborates with SoftBank Group Corp. 🤝 Revolut, the UK's most valuable fintech, is one step closer to securing a long-awaited banking license in its home market. After months of negotiations, the two giants have reached an agreement to simplify Revolut's ownership structure, a critical step in fulfilling the Bank of England's conditions for granting the license. 📝 This milestone, known internally as "Project Swan," removes a significant obstacle on Revolut's path to becoming a full-fledged bank in the UK. SoftBank, Revolut's largest investor, has been instrumental in this process, and while their demands were substantial, the agreement doesn't involve any new shares or have a financial impact on Revolut. But that's not all; other investors, including: 💠Tiger Global Management, 💠TCV, 💠Balderton Capital, 💠Ribbit Capital, These companies are also in the final stages of transferring their shares into a single class. This collective effort underscores Revolut's commitment to meeting the regulatory requirements necessary for its growth. As many of you know, SoftBank played a pivotal role in Revolut's journey, leading an $800 million fundraising round in 2021 that valued the company at $33 billion. Revolut's co-founder, Nik Storonsky, personally appealed to SoftBank's chief, Masayoshi Son, emphasising the importance of obtaining this license to support the company's impressive valuation and future growth. While this agreement is a significant step forward, there are still challenges ahead that should be highlighted, including ensuring clean and timely financial accounts and addressing system issues. However, Revolut remains dedicated to overcoming these obstacles and expanding its services, ultimately benefiting customers worldwide. 🔰 How do you think Revolut could overcome these challenges, #fintechs? #Fintech #Banking #Revolut #FinancialInnovation
To view or add a comment, sign in
-
After almost a decade of fintech mania and billions of dollars worth of VC rounds, most fintechs have yet to exit, leaving their investors in a lurch. The IPO window is not exactly ideal. But there are also other reasons why this group is frail: Most neo banks or digital banks are not profitable. According to a survey done by Simon-Kucher only a handful of the 400+ digital banks have produced a profit. Most of these startups have not demonstrated a regular cadence of transparency or regulatory reporting, something that large, public, investable companies must do, especially in this sector. These companies focused on customer acquisition, while sacrificing profit. A certain scale is necessary to generate profit. But waiting for a decade, burning through 7 or 8 funding rounds, exposes an inability to face reality. As the fantastic piece by Reuters Breakingviews points out, the valuations are astonishing, mismatched. Founders are overestimating multiples. They value their companies above established, large banks, even when they themselves lack a banking license. Down rounds, liquidations or piecemeal acquisitions are a more likely scenario as these players try to fight gravity. Ironically it will be the established investment banks that will earn fees, as these fintechs prepare for their exits. #capitalmarkets #fintechs #investmentbanking #corporatestrategy
Revolut’s desired $40 bln price tag is a stretch
breakingviews.com
To view or add a comment, sign in
96,477 followers