TECH - SoftBank-Backed Fintech Giant Revolut Eyes Valuation Of Over $40B In Employee Share Sale: Report | Benzinga
In a move that could solidify its status as Europe’s most valuable startup, Revolut, a UK-based fintech major, is reportedly eyeing a valuation of over $40 billion in an employee share sale.
What Happened: Revolut, which is backed by SoftBank Group Corp. (OTC:SFTBY), is working with Morgan Stanley to sell approximately $500 million worth of existing shares, including those owned by employees, Financial Times reported, citing three people with knowledge of the plans.
The proposed valuation would represent a 21% increase from Revolut’s $33 billion valuation in its 2021 fundraising round. This would also place Revolut’s market capitalization on par with that of Lloyds Banking Group Plc. and above that of NatWest and Société Générale SA.
Despite the challenging ...