Revolut to allow staff to sell shares at $75bn valuation

Revolut employees are in line for big windfalls as the fintech allows staff to sell down their holdings in the company at a $75 billion (€64 billion) valuation.

Revolut told staff on Monday that they would be allowed to sell up to 20 per cent of their shares to make way for other investors, according to people with knowledge of the matter and a document seen by the Financial Times.

The company’s performance over the past year “has led to further investor demand from both new and existing world class investors”, the document said.

The sale will allow employees to cash in on significant growth at Revolut, which has become one of the world’s most valuable fintechs as it seeks to challenge traditional retail banks.

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A 2021 fundraising round led by SoftBank and Tiger Global had valued the company at $33 billion, while an August 2024 employee share sale achieved a $45 billion valuation.

In July the FT revealed that Revolut was raising new funding from investors at a so-called blended valuation of $65 billion, comprising a higher figure for raising new money and a lower valuation for existing investors selling shares.

The company hopes the fundraising round will accelerate its international expansion plans. It comes as Revolut considers buying a nationally chartered bank in the US, which would allow it to lend across all 50 states.

Revolut said: “As part of our commitment to our employees, we regularly provide opportunities for them to gain liquidity. An employee secondary share sale is currently in process, and we won’t be commenting further until it is complete.”

Regulators last year approved Revolut for a UK banking licence after a three-year application process, which had been complicated by the company’s size as well as concerns over its internal systems. Revolut has nearly 11 million customers in the UK and more than 50 million worldwide.

Despite winning the licence, it is still awaiting permission to lend in the UK as a fully fledged bank as it attempts to complete a “mobilisation” phase in which it must build out its banking infrastructure and controls. In the meantime, its banking division can accept total deposits of just £50,000 in the UK.