Revolut founder and chief executive Nik Storonsky has sold a chunk of shares worth as much as £230million.
Just weeks after securing its long-awaited banking licence, the Russian-born billionaire offloaded the stock in an employee secondary share sale.
The shares accounted for between 40 per cent and 60 per cent of the stock sold in August, according to reports.
Cashing in: Revolut founder and chief executive Nik Storonsky offloaded shares worth as much as £230m in an employee secondary share sale
That means he sold somewhere between £153million and £230million of his holding in the London-based app.
But this is just a small portion of his overall stake, estimated to be worth around £6billion.
Several thousand employees took part in the share sale, according to Sky News.
Revolut declined to comment.
Last month the company was valued at £35billion – more than Barclays and NatWest – and is Europe’s most valuable start-up.
It waited three years for a UK banking licence after auditors said they could not verify the 2021 accounts, prompting
Storonsky to attack the UK as a place to do business.
The licence means Revolut can hold customer deposits and offer new products such as credit cards, personal loans or mortgages.
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