Revolut is considering listing on the London Stock Exchange

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Revolut plans to list on the London Stock Exchange after becoming Britain’s most valuable tech company ever
Revolut is considering listing on the London Stock Exchange after becoming Britain’s most valuable tech company ever, the MoS can reveal.
The financial ‘super app’ secured a hit valuation of $ 33 billion (£ 24 billion), larger than NatWest, last week after raising $ 800 million from private equity giants Softbank and Tiger Global. The $ 33 billion price tag is six times higher than its last funding round at the start of last year, when founder Nikolay Storonsky, 36, became one of Britain’s youngest billionaires.
Listing in the City would be a huge boost to Chancellor Rishi Sunak’s plans to make London the go-to place for fast-growing companies.
Staggering success: Listing in the City would be a huge boost to Chancellor Rishi Sunak’s plans to make London the place of choice for fast-growing businesses
Speaking exclusively to MoS after a week of speculation about the company’s plans, Revolut chairman Martin Gilbert said: “If we ever did, we’d love to do it in London. To be fair. towards the London Stock Exchange and the Treasury, they make it more and more easier for us to list in London rather than having to go to the Nasdaq in the future. The Treasury and the Stock Exchange are trying to make London the most popular listing place. Attractive, however, he ruled out an entry this year and said there were “no immediate plans”.
The government released two reviews earlier this year, led by Lord Jonathan Hill and former Worldpay boss Ron Kalifa, to attract tech entrepreneurs to Britain. They demanded that companies be allowed to hold “double class shares,” which would give founders more voting rights compared to common shareholders and help them avoid takeovers.
Gilbert, who founded Aberdeen Asset Management in 1983, said: “Dual class stocks would be important. Founders are always afraid of losing control.
Rival payments app Wise was listed in London last month at a value of £ 9bn and with dual class shares, although under current rules it has not been able to feature on the “premium†part of the Stock Exchange, where stocks are included in indices such as the FTSE100.
According to Revolut’s presentation documents, viewed by this newspaper, the new funds will expand its offering in the United States and its entry into India and other markets. He said the mobile app is now the fourth most valuable fintech in the world.
Revolut started out as a low cost foreign currency travel card. It now has 16 million customers and provides other financial services including cryptocurrency trading.
But analysts have wondered how Revolut reached a valuation of £ 24bn after suffering an annual loss of £ 168m last year. Gilbert said Revolut made a profit in the first few months of the year.
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