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HomeBankRevolut says secondary share sale valued agency at $45B

Revolut says secondary share sale valued agency at $45B


Revolut Ltd. stated a secondary share sale that allowed the corporate to offer workers liquidity for his or her stakes valued the corporate at $45 billion.

The spherical was led by traders Coatue, D1 Capital Companions and Tiger World, based on an announcement. Morgan Stanley served as sole placement agent on the deal.

The brand new valuation is up from a $33 billion price ticket that Revolut garnered in 2021. Not like lots of its rivals throughout the fintech panorama, Revolut hasn’t needed to increase cash in recent times, permitting it to keep away from the sharp declines in valuation that lots of its friends suffered as excessive rates of interest pressured traders to rethink their help for the house.

Klarna Financial institution AB, as an illustration, was final valued at $6.7 billion valuation in a 2022 funding spherical, which was a far cry from the $45.6 billion valuation it acquired from traders only a yr earlier. The Stockholm-based firm can be in early talks with traders to gauge their curiosity in shopping for up current shares of the corporate on the secondary market.

Revolut’s announcement caps a course of the place the corporate was in talks with traders to promote about $500 million of current shares, Bloomberg Information beforehand reported. It additionally comes simply weeks after Revolut acquired a long-awaited banking license from UK regulators.

Coatue has a “excessive degree of conviction” in its funding in Revolut, Philippe Laffont, founder and portfolio supervisor for the funding agency, stated within the assertion. Revolut Chief Government Officer Nik Storonsky stated he was “delighted” to offer workers with the liquidity.

— By Aisha S Gani (Bloomberg Information)



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