Revolut hit with 40 per cent valuation write down amid banking licence woes June 15, 2023 Revolut’s value has plunged by nearly 40 per cent over the past year as it struggles to win a banking licence and fails to provide full “visibility” on its accounts, according to a major investor in the firm. London-based Revolut, run by Russian-British founder Nik Storonsky, bagged a $33bn valuation at the peak of the [...]
Revolut finance chief quits for ‘personal reasons’ May 11, 2023 The finance chief of Revolut has quit the firm, he announced today, adding to the woes of the company as it struggles to earn a UK banking licence.
Revolut takes the fight to regulators as business secretary seeks ‘urgent’ meeting May 8, 2023 Revolut has attacked UK regulators for being “extremely bureaucratic” twice over the past few days as reports suggest government figures are attempting to soothe the fintech’s concerns. According to the Daily Telegraph, business secretary Kemi Badenoch is seeking an emergency meeting with Revolut to convince it to stay in the UK. The newspaper reported that [...]
Revolut shareholder slashes firm’s value by nearly half as investors sour on tech April 24, 2023 Revolut’s value has plunged by nearly half over the past year according to one of its shareholders, as investors reconsider the hefty price tags attached to tech and fintech firms during a 2021 funding frenzy. Schroders Global Innovation Trust, a long-time Revolut investor, revealed in a regulatory filing last week that it had written down [...]
Fintech fail: Home Office bars start-ups banked with Revolut from visa sponsorship licence January 11, 2022 The fintech revolution is sweeping through Government – but it appears it hasn’t yet hit the Home Office, which bars start-ups who bank from Revolut from acquiring a vital visa sponsorship licence. Recently-founded businesses looking to gain a licence to “sponsor” foreign workers through the government’s new visa system must submit evidence of a corporate [...]