Abu Dhabi sovereign investor eyes $100m slice of Revolut
An investor in the Abu Dhabi sovereign fund is eying a $100m (£73m) stake in digital banking giant Revolut.
State-owned global investment firm Mubadala is reportedly in advanced discussions to purchase shares in Revolut from existing investors.
The deal, if completed, would add to a smaller stake the fund purchased last year as part of a wider secondary transaction.
Mubadala is said to be interested in acquiring additional shares of the $45bn fintech when they become available according to Sky News.
Balderton – a tech investor that supported Revolut from its early stages – is said to be among those mulling a hefty payout from offloading a chunk of their holding.
Revolut declined to comment.
Revolut chief in for Musk style payday after valuation bump
Revolut chief executive Nik Storonsky pocketed hundreds of millions after selling a small proportion of his shares in a secondary sale nearly a year ago.
The fintech chief is in line for a Elon Musk-style payout as Revolut notches new valuation milestones, according to the Financial Times.
Should the company hit all its targets, the total number of shares available to Storonsky could be as much as ten per cent of the company.
The package includes gradual bumps to Storonsky’s takings mirror Musk’s whopping $56bn performance-based deal for Tesla in 2018.
The fintech giant boosted pre-tax profit growth of 149 per cent to £1bn in the last year, up from £438m in 2023.
The firm is expected to exit the final stages of activating its banking licence this year, but faces speculation it will surpass the 12-month period for mobilisation.
A Revolut spokesperson said it would prioritise passing the necessary regulatory reviews to obtain a licence rather than “rushing to meet a specific date”.
“We are looking forward to launching a fully regulated UK bank for our millions of UK customers this year.”