Revolut has hit a $115bn valuation as it carries out a secondary share sale for employees, according to reports.
The fintech giant’s secondaries sale will value each share at $2,017, according to an internal message to staff seen by Bloomberg.
A Revolut spokesperson said: "We can confirm that a secondary share sale process is underway. As is standard, we won't comment on the details while the process is ongoing, and we'll provide an update once it has completed."
The confirmation follows previous reports that the financial superapp was weighing a share sale for the second half of this year around $100bn.
This valuation brings Revolut closer to its $200bn target for a potential 2028 listing.
The deal would make CEO and cofounder Nik Storonsky one of the richest people in the world due to an incentive deal which would see his personal stake in Revolut jump another 10% if certain goals related to the company’s valuation are met.
Revolut’s last secondary sale was in November and valued the company at $75bn, a significant jump from its $45bn valuation the previous year.
