Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Fintech»Will Revolut IPO in UK or US? FinTech set for government talks
    Fintech

    Will Revolut IPO in UK or US? FinTech set for government talks

    August 16, 20243 Mins Read


    FinTechDeals

    The UK government is planning to meet Revolut as it looks to woo the UK’s largest FinTech to London’s public markets.

    City minister Tulip Siddiq is expected to meet the digital bank this autumn as part of a series of one-to-one talks with businesses, reports the Financial Times.

    A source said topics may include its listing plans, with Revolut said to favour New York’s Nasdaq exchange for a potential IPO.

    Meanwhile, Revolut has signed agreements with a group of leading technology investors to provide liquidity to employees through a secondary share sale at a £35 billion valuation. 

    It allows current employees to capitalise on their contribution to Revolut’s growth, while attracting a diverse mix of both new and existing investors. The round was led by Coatue, D1 Capital Partners, and existing investor Tiger Global.

    CEO Nik Storonsky (pictured, right), who co-founded the company with CTO Vlad Yatsenko (left), said last year he did not “see the point” of listing in London – due to the UK’s regulatory environment – but chair Martin Gilbert said last month that the firm would “keep an open mind”.

    Chipmaker Arm was courted by the previous Conservative government but opted to list on the Nasdaq, a move widely seen as a blow to the London Stock Exchange, which is now enacting changes to make it easier to list in the UK capital.

    RegTech leader named CRO by Encompass Corporation

    Revolut recently received its UK banking licence with restrictions from the Prudential Regulation Authority more than three years after lodging its application.

    The neobank reported remarkable revenues of £1.8 billion in 2023 – a 95% jump in turnover compared with the previous year – with profit before tax topping £438m. It claims to be the fastest growing finance app in 19 markets, and is on track to surpass 50m customers by the end of 2024. 

    “We’re delighted to provide the opportunity to our employees to realise the benefits of the company’s collective success,” said Storonsky. 

    “It’s their hard work, innovation, and dedication that has driven us to become the most valuable private technology company in Europe. 

    “We’re also excited to partner with several new investors who share our vision as we continue our journey to redefine the banking landscape as we’ve known it.”

    The company has also secured a banking licence in Mexico and launched several new products in the last year, including the RevPoints Loyalty Programme, eSIMs and the Revolut X crypto exchange. 

    “We have a high level of conviction in Revolut’s mission to democratise access to financial services globally,” said Philippe Laffont, founder and portfolio manager at Coatue. 

    “Revolut’s proven ability to scale across dozens of markets is a testament to the team’s commitment to product velocity, financial inclusion, and financial innovation. 

    “Under Nik and his team’s leadership, Revolut has navigated the complexities of the financial services landscape to deliver an impressive product suite that meets the needs of its rapidly growing customer base. 

    “We look forward to supporting Revolut as it continues to help transform the global banking industry.”

     

    AI leader ElevenLabs opens worldwide HQ in London



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Le numérique au service du développement : catalyseur, levier ou fracture ?

    Fintech

    Transcript : UP Fintech Holding Limited, Q1 2025 Earnings Call, May 30, 2025

    Fintech

    le pari (gagnant) de cette fintech française

    Fintech

    La division fintech de MercadoLibre va demander une licence bancaire en Argentine

    Fintech

    Transcript : Huddlestock Fintech AS, Q1 2025 Earnings Call, May 28, 2025

    Fintech

    InTouch officiellement agréé au Sénégal et dans 03 autres pays

    Fintech
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    What Is Cryptocurrency?

    Cryptocurrency

    Why $59 billion in cryptocurrency transactions cannot be ignored by banks —Experts

    Stock Market

    Why Is The Procter & Gamble Company (PG) the Best Dividend Stock of All Time?

    Editors Picks

    Dow, S&P 500, Nasdaq stage comeback after Moody’s downgrades US credit rating

    May 19, 2025

    Fintech Live 2024: Day 1 recap – Innovation in payments, embedded finance, and AI

    October 22, 2024

    ECB Targets October to Finish Digital Euro Preparation Phase

    March 10, 2025

    Algonquin Power & Utilities prolonge son accord de coopération avec l’investisseur activiste Starboard -Le 13 mars 2025 à 22:24

    March 13, 2025
    What's Hot

    Engaging Youth in Agriculture, Both Near and Far

    August 7, 2024

    How imported eggs saved American breakfast

    April 6, 2025

    NANO Nuclear Energy Closes Full Over-Allotment Option

    July 19, 2024
    Our Picks

    Nigeria’s Crypto Leap: Providing Solution to the Currency Crisis | CoinDesk Live at Stellar Meridian 2024 Video

    October 16, 2024

    Stock market today: Dow, S&P 500, Nasdaq turn higher as yields ease after House OKs Trump tax bill – Yahoo Finance

    May 22, 2025

    BOURGES. Des gameurs seniors vaillants aux manettes au Silver Geek

    May 23, 2025
    Weekly Top

    The UK’s ‘best’ seaside town to move to in 2025 with properties on sale for just £70k | UK | News

    May 31, 2025

    SEC Dismisses Lawsuit against Binance

    May 31, 2025

    Artemis Gold Inc. annonce l’ouverture officielle de la mine Blackwater

    May 31, 2025
    Editor's Pick

    Worried about your 401k, investments after Trump’s tariffs? Here’s some expert advice

    April 8, 2025

    “So metal”: Headless Marie Antoinette steals the show at Paris Olympics opening ceremony

    July 26, 2024

    Messa sign with Metal Blade Records

    October 14, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.