Revolut has initiated the process to sell its stake in the company at a valuation of $75 billion.

PANews, September 2 - According to Bloomberg, UK fintech company Revolut Ltd. has initiated the process for some employees to sell their company shares at a valuation of $75 billion, which is higher than the $45 billion valuation obtained when Revolut issued shares in the Secondary Market last year. A memorandum to staff shows that the per-share valuation for this Secondary Market issuance is $1,381.06, and the company has met the subscription demand from both new and existing investors. Sources indicate that employees of the London-based company will be able to sell up to 20% of their shares. A Revolut spokesperson stated: "As part of our commitment to our employees, we regularly provide them with opportunities to gain liquidity. The secondary market sale of employee stock is currently underway, and we will not comment further until it is completed."