Revolut’s Nik Storonsky sells up to $300m shares in company.
The founder of Revolut, one of Europe’s leading tech companies, has reportedly sold shares valued at up to $300 million (£230 million) in the company. Nik Storonskythe CEO of Revolutoffloaded between 40% to 60% of his shares during a secondary sale last month. According to Sky News, the total value of the stock sale for the UK’s most valuable fintech company ranging from $200 million to $300 million. Storonsky still holds a stake in the company that is estimated to be worth around $8 billion. Last month, Revolut announced that a secondary sale of employee shares to investors was organized to enhance “employee liquidity.”
Storonsky gained from the transaction, but specific details about the stock he sold during the sale, which brought in an estimated $500 million for the staff, were not disclosed. The institutional investors who purchased the staff shares included Tiger Global Management, Coatue, and D1 Capital Partners.
This secondary share sale placed Revolut’s valuation at $45 billion, surpassing traditional UK banks like NatWestwhich is valued at £27.5 billion (approximately $36 billion). Revolut started in 2015 as a prepaidcard service aimed at providing customers with free currency exchange. Since then, it has expanded to employ over 10,000 people and serve 45 million customers across 38 countries. It took regulators three years to issue a banking license to the London-based company, which was finally granted in July.
How did Nik Storonsky make his money?
Storonsky grew up in a family connected to Gazpromwith his dad, Nikolay Mironovich Storonsky, serving as the Deputy General Director of Science at Gazprom Promgaz since 2017. He also held the position of First Deputy General Director for Science at the same institute. Storonsky pursued a master’s in physics at the Moscow Institute of Physics and Technologywhere he also made a name for himself as a state champion swimmer.
Are the owners of Revolut Russian?
The Russian-born British businessman was born in Dolgoprudny, Russian SFSR, Soviet Union on the 21 July 1984founded Revolut in 2015 with Vlad Yatsenko and is headquartered in London. Revolut employees an estimated 8,152 employees and offers banking services for retail customers and businesses.
Nik Storonsky cofounded and runs Revolutwhich was valued by private investors at $45 billion
in August 2024. Storonsky owns around 18% in Revolut, which offers currency exchange and surcharge-free ATMs to global transfer payments and budgeting services.
