Revolut becomes Europe’s most valuable private tech firm after $500m employee share sale

New Valuation: Revolut has become Europe’s most valuable private tech company, now valued at $45 billion after a secondary share sale.
Employee Benefits: The share sale, involving new and existing investors like Tiger Global, Coatue, and D1 Capital Partners, will generate $500 million in liquidity for Revolut’s employees.
CEO Statement: CEO Nik Storonsky highlighted the employees’ contributions to the company’s success, emphasizing their role in achieving the new valuation.
Financial Performance: In 2023, Revolut reported $2.2 billion in revenue (95% year-on-year growth) and a $545 million profit before tax.
2024 Projections: Revolut expects over 80% revenue growth and plans to increase its user base by five million, aiming for 50 million customers by the end of the year.
Global Expansion: The company has secured a banking licence in Mexico and received a restricted UK banking licence after a three-year wait.
Company Background: Founded in 2015 in London, Revolut started as a digital payments and money transfer app and has since expanded into various financial services, including BNPL credit, cryptocurrency trading, and more.
Stock Market Speculation: With its new high valuation and record profits, there is growing speculation about Revolut’s potential stock market debut, with discussions around a possible listing in New York or London.