SoftBank-Backed Fintech Giant Revolut Eyes Valuation Of Over $40B In Employee Share Sale: Report

Quick Summary:

What Happened: Revolut, which is backed by SoftBank Group Corp.(OTC:SFTBY), is working with Morgan Stanley to sell approximately $500 million worth of existing shares, including those owned by employees, Financial Times reported, citing three people with knowledge of the plans.

In a move that could solidify its status as Europe’s most valuable startup, Revolut, a UK-based fintech major, is reportedly eyeing a valuation of over $40 billion in an employee share sale.

The proposed valuation would represent a 21% increase from Revolut’s $33 billion valuation in its 2021 fundraising round.

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Category: Technology

Markets: United States

Topics: LYG MS NWG SFTBY Morgan Stanley US5394391099 US83364L1098 SCGLY Fintech Tech Benzinga Kaustubh Bagalkote Softbank Group US6174464486 Global Revolut News

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-21 @ 06:50:52 (6 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 402 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21326696

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