Revolut has told staff it is launching a sale of up to $500mn worth of existing shares at a $45bn valuation, in a move that will cement the fintech’s status as Europe’s most valuable start-up.
Employees who have been at the fintech for at least a year and are not on gardening leave will be eligible to sell 20 per cent of their vested share options at a price of $865.42 per share, said people familiar with the matter. Unlike with previous sales, former employees are ineligible, the people said.
Revolut said it was “committed to enabling its employees to share in the company’s success by becoming shareholders while also providing them with regular opportunities to sell shares”.
The internal announcement comes after Revolut last week was granted a banking licence in the UK, where it has 9mn customers.
This is a developing story
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