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Early investors and employees of fintech Revolut have sold nearly $1 billion in shares since August, following the company's acquisition of a limited banking license in the UK. Notable investors, including the Abu Dhabi sovereign wealth fund Mubadala and firms like Coatue and Tiger Global, participated in these secondary share sales. Revolut, valued at approximately $45 billion, reported 50 million global customers and $2.2 billion in revenue for 2023, with a pre-tax profit of $545 million.
Revolut is rapidly expanding its user base, aiming for 100 million customers while entering the real estate lending market in Lithuania, Ireland, and France. Swiss fintechs like Neon and Yuh are also thriving, with innovative solutions and transparent pricing, fostering competition that benefits consumers. Digital pension providers, such as Viac, are revolutionizing investment accessibility, although the market remains dynamic and competitive.
At Slush, Europe’s premier startup conference, over 13,000 investors and entrepreneurs gathered amid a winter storm in Helsinki, blending elements of TED Talks and Shark Tank. Despite Europe's economic challenges and geopolitical tensions, the event showcased optimism and innovation, with a notable increase in venture capital interest, highlighted by a 46% rise in limited partners attending. The conference also addressed the tech industry's role in warfare, emphasizing the need for Europe to bolster its technological independence.
Nikolay Storonsky
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revolut early investors sell shares worth billions following banking license approval
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european startup conference blends innovation optimism with geopolitical challenges
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