Revolut Founder Storonsky Lands £350m Bonanza from Digital Banking Giant

By Evans Momodu
1 minute read


Nik Storonsky, the billionaire founder of Revolut, has secured a £350 million windfall from selling shares in his fintech company during an extended secondary share sale.

This development highlights the rapid rise of Revolut, now valued at $45 billion just a decade after its founding.

Storonsky has sold over $400 million (£330 million) worth of stock, with final proceeds potentially exceeding this figure once the secondary round concludes.

Initially limited to employees, the share sale was later expanded to include early investors, with total transactions in the round surpassing $1 billion.

Storonsky's stake in Revolut is estimated at $8 billion. He expressed gratitude to employees, emphasizing their role in driving Revolut’s success and securing its position as Europe’s most valuable private technology firm.

Prominent investors, including Mubadala, Coatue, and D1 Capital Partners, participated in the round, along with thousands of Revolut employees who benefited from the sale. Storonsky's financial gain underscores his status as one of the wealthiest figures in the technology sector.

This milestone follows Revolut’s recent achievement of a British banking license after years of uncertainty—a process Storonsky had openly criticised. The windfall and regulatory progress signal continued momentum for the fintech leader.
Source: Sky news