Revolut CEO to sell part of stake in $500 million share sale, Sky News reports
- British fintech company Revolut's CEO Nikolay Storonsky will cash in part of his multibillion dollar stake in the company as part of a $500 million share sale, Sky News reported on Sunday.
The size of Storonsky's stake in the company is unclear, the report added, and the scale of any disposal would depend on the valuation that Revolut is able to attract from new investors as well as final allocation decisions by the company.The company has signalled its aim to list publicly but its interim chief financial officer Victor Stinga declined earlier this month to comment on any timeline for an IPO.
Britain's fintech industry has faced a funding crunch in recent years as investors have become more sceptical of sky-high pandemic-era valuations and put pressure on companies to become profitable.Scan QR code to install app
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