Revolut Reaches $115bn Valuation in New Employee Share Sale
The London-based digital bank has confirmed a fresh secondary share sale, letting staff cash in shares at a reported $115bn valuation.
AfroEuropa Newsroom
AfroEuropa desk
Revolut has confirmed the launch of a new secondary share sale that reportedly values the digital bank at $115bn.
The process allows some employees to sell their shares. According to Bloomberg, cited by Tech.eu, the shares are priced at $2,017 each. Revolut said a secondary share sale process is underway and that it would not comment on details while it was ongoing, providing an update once completed, according to Tech.eu.
In an internal message to staff reported by Bloomberg, co-founder and chief executive Nik Storonsky said he was glad employees now had another opportunity to realise liquidity on their shares, and pointed to the company's momentum over the past twelve months, its business fundamentals and its expansion into new markets as attracting demand from new and existing investors.
Keep reading
dLocal Ghana Wins Enhanced Payments Licence to Expand Local Operations
The Ghanaian arm of Uruguayan payments firm dLocal has secured an Enhanced Payment Service Provider licence from the Bank of Ghana, allowing it to run more of its business locally.
Other highlights
Einride and Lidl Launch Germany's First Cab-Less Driverless Truck on Public Roads
The autonomous truck now moves goods for Lidl in Germany without a driver or safety operator on board, under a first-of-its-kind national permit.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
