Reports have revealed that the CEO of Revolut plans to sell a substantial portion of his stake in the fintech during an upcoming secondary share sale. The exact amount of the sale will depend on the valuation Revolut manages to achieve.

Details regarding the CEO’s current stake in the company remain undisclosed. According to msn.com, Revolut has engaged Morgan Stanley to oversee the secondary sale, aiming for a valuation of USD 40 billion. This represents an increase from its previous valuation of USD 33 billion during its 2021 funding round, solidifying its position as Europe's largest fintech.

The sale, however, will not generate funds for the company itself but will facilitate the opportunity for employees to sell their shares to new investors. More information about Revolut Established in 2015 as a challenger bank, Revolut generates revenue primarily through payments, subscriptions, and customer trading of stocks and cryptocurrencies. The fintech recently expanded its product offerings to include various trading instruments and third-party integrations.

With a global customer base exceeding 40 million, and a significant presence in the UK, Revolut operates under a Lithuanian banking licence in Europe and has obtained a similar licence in Mexico, along with a payment licence in India. Revolut is still awaiting approval for a UK banking licence, which it applied for in 2021. In June 2024, CMC Connect has entered into a partnership with Revolut.

This collaboration involved the integration of multiple APIs, with the user interface accessible through the Revolut app. The partnership enabled back-to-back trading with Revolut and a complete back-end integration, providing Revolut customers access to CMC Markets Connect's trading services. Initially, this included Forex, Index, Commodities, Treasuries, and Equity CFDs, with potential expansion to other asset classes in the future.

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