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As an alternative to an exit, secondary share sales have been seized upon by fintech firms looking to raise funds and increase liquidity for employee stockholders, with Plaid and Stripe the latest to go to market. Stripe is considering arranging a sale of shares held by employees that would value the company at $85 billion or more according to tech news site The Information. The transaction would extend a series of share buybacks, secondary sales and fundraises that have lifted the payments provider’s valuation close to its $95 billion peak in the go-go years of the early 2020s.
Previous fintech companies to benefit from secondary share sales include UK Super App Revolut, which reached a $45 billion valuation in August from the share sell off, and challenger bank Monzo which scored a $5.9 billion valuation from its own share sale.
