Revolut has launched a secondary sale of its shares valuing the financial technology giant at $75 billion, a source familiar with the company said on Monday, as the London-based group doubles down on its expansion plans to rival bigger lenders. Revolut, which has emerged as the most successful of a handful of European fintechs founded in the past decade with a digital-only model, was valued at $45 billion last year through a share sale from new and existing investors. "An employee secondary share sale is currently in process, and we won't be commenting further until it is complete," a spokesperson for Revolut said in an emailed statement on Monday. The share sale was first reported by Bloomberg News, which said the process valued each Revolut share at $1,381.06. In April, the fintech company more than doubled its reported annual profit, boosted by strong crypto trading, interest income, and card fees, and said that it expected to start operating as a UK bank this year.
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