Revolut Is Looking to Sell $500 Million Worth of Existing Shares

Revolut Ltd., one of Europe’s most-valuable startups, has hired bankers to help it sell about $500 million worth of existing equity, joining a raft of private companies that have looked to alternative forms of liquidity for its shareholders as the market for initial public offerings remains in the doldrums.

The challenger bank is working with Morgan Stanley on the sale, which will help it free up cash for legions of existing staffers and early investors, according to people familiar with the matter. The transaction, which was reported earlier by the Financial Times, may value Revolut at more than $40 billion, up from the $33 billion valuation it last garnered in a 2021 fundraising round.