Revolut Employees Set to Cash In with $500M Share Sale
Hey FinTech Fanatic!
Revolut, the UK's FinTech giant, plans to sell up to £400 million in shares, allowing employees to cash in. Morgan Stanley is expected to manage this secondary share sale.
Despite not raising new capital, the sale, restricted to employees, aims to maintain Revolut's $33 billion valuation from its 2021 funding round.
Founded in 2015, Revolut has grown rapidly but faced regulatory challenges. The company has 10,000 employees, many with stock options. This move comes amid a challenging tech funding landscape and as Revolut awaits approval for a UK banking license.
Enjoy more FinTech updates below, and have a great start to the week!
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MOVERS & SHAKERS
🇪🇺 Revolut announced the appointment of Gianmaria Scocca as Head of Branches Europe. Gianmaria will lead the strategy to make Revolut Bank become a relevant and successful player in each country, starting with branch launches in markets like Italy, Germany, and Belgium.
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