Revolut employee share sale reportedly values fintech at $115 billion
Bloomberg reported an internal staff message priced shares at $2,017; Revolut confirmed a secondary process but did not comment on terms.
By Ingrid Halvorsen · Venture Capital Reporter
· 2 min read
Revolut is running an employee secondary share sale that reportedly values the company at $115bn, Bloomberg reported, citing an internal staff message. The price would mark another step up for one of Europe’s most valuable private technology companies after a $75bn valuation in November, and would move it closer to its stated $200bn target for a potential 2028 listing.
According to Bloomberg, the secondary transaction prices Revolut shares at $2,017 each. Revolut has confirmed that a secondary share sale process is underway, but said it would not discuss the details while the process remains open and would provide an update after it is completed.
The company has not disclosed the size of the sale, which employees are participating, the buyers involved, or whether the final valuation could change before the transaction closes. No new operating metrics, revenue figures or profit figures were disclosed alongside the reported valuation.
A rapid private-market markup
The reported $115bn price is a sharp increase from Revolut’s last secondary sale in November, when the company was valued at $75bn. That November valuation was itself above the $45bn mark assigned to the company the prior year.
Secondary sales have become a common way for late-stage private companies to offer liquidity to employees and early backers while delaying a public listing. For Revolut, the reported price also gives private-market investors another benchmark for the fintech’s value as it weighs a possible IPO later in the decade.
Previous reports said Revolut had been considering a share sale in the second half of this year at roughly a $100bn valuation. The Bloomberg-reported price, if completed, would come in above that level.
IPO target and founder incentives
The valuation also matters for CEO and cofounder Nik Storonsky. Reports have said an incentive arrangement could increase his personal stake in Revolut by another 10% if certain valuation-related targets are reached. If those conditions are met, the arrangement would make Storonsky one of the world’s richest people, according to the reports.
Revolut’s $200bn target for a potential 2028 listing remains well above the reported secondary price. The company has not provided new public detail on the timing, venue or structure of any IPO.
For the European fintech market, the reported valuation reinforces the gap between Revolut and most private peers. It also shows continued appetite for exposure to a scaled consumer finance platform at a time when later-stage fintech deal counts have been under pressure. The unanswered part is whether public-market investors will value the company on similar terms when it eventually has to sell the story outside a controlled private secondary process.
This story draws on original reporting from Sifted.
