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UK fintech Revolut is targeting a valuation exceeding $40b in a share sale that would cement its status as Europe’s most valuable start-up, according to three people with knowledge of the plans. The SoftBank-backed company is working with Morgan Stanley to sell about $500m worth of existing shares, including those held by employees, the people said.
Revolut has about 40mn customers globally, of which a third are based in the UK. Starling and Monzo, which are regulated as banks, have each less than 10mn customers and only operate in the UK.
https://www.ft.com/content/9e613f65-cdf5-4b3d-9ac7-cfb39cde3159
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