Revolut’s $45B Valuation Milestone & Nubank’s $404M Share Sale

Hey FinTech Fanatic!

Revolut has achieved a remarkable $45 billion valuation through a recent share sale by employees. This milestone places Revolut as the UK’s second-most valuable bank, trailing only HSBC, and surpasses its previous $33 billion valuation from 2021.

The UK government is keen to leverage this momentum, urging Revolut to consider a London listing over New York.

This development follows Revolut’s acquisition of a UK banking license in July, a milestone reached after a prolonged three-year battle with regulators. The new license not only allows Revolut to hold deposits and expand its lending capabilities within the UK but also enhances its potential to secure similar licenses in other major markets, such as the US.

Despite this progress, Revolut’s leadership, including CEO Nik Storonsky, appears inclined towards a potential IPO in New York, favoring the liquidity of Nasdaq over London’s stock exchange.

As London faces increased competition from New York, the UK government is intensifying efforts to keep Revolut's IPO on home soil.

Meanwhile, across the Atlantic, Nubank’s CEO and co-founder, David Vélez, made headlines with a $404 million share sale as the digital bank’s stock soared to record highs.

Vélez offloaded 31 million shares, roughly 3% of his stake, through his trust Rua California Ltd., primarily for estate planning purposes.

Nubank's shares have surged over 69% this year, buoyed by a more than doubling of its second-quarter profits, reflecting strong investor confidence in the digital bank's ongoing growth.

FinTech is alive and kicking ??

Cheers,

Marcel

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