According to the Financial Times, the deal will see Revolut founder Nik Storonsky collect a minimum of $200m.

Revolut employees sold $500m worth of shares in August with Storonsky accounting for around half of the share sale.

Mubadala was one of the investors to purchase the shares, along with DI Capital Partners, Tiger Global and Coatue, although it is not clear how many shares Mubadala purchased or the size of its stake.

The investment comes at a time when Mubadala is focused on European deals having completed at least 28 in the last five years, accounting for a fifth of global transactions.

Meanwhile, Revolut recently received a UK banking licence after a three-year wait and also announced a plan to focus more on business banking.

Revolut has also started to apply for banking licences in the Middle East in recent weeks.