According to Reuters, Revolut’s valuation announcement comes after the Financial Times reported that the UK government was planning to meet Revolut’s leadership to convince them to list on the London Stock Exchange instead of New York.

Cashing Shares

The latest share sale now allows staff in Revolut to cash in their stock and bring new investors into Revolut’s fold.

“We’re delighted to provide our employees the opportunity to realize the benefits of the company’s collective success. It’s their hard work, innovation, and dedication that has driven us to become the most valuable private technology company in Europe,” Nik Storonsky, Revolut said.

The shares sale was led by various partners including Tiger Global, D1 Capital Partners, and Coatue.

Valuable Than Banks

The $45 billion Revolut share valuation makes the fintech company more valuable than some European banks. The fintech company’s valuation now doubles that of the French Bank Societe Generale whose current valuation now stands at $19 billion. Revolut is also more valuable than UK’s Barclay’s $43 billion.

In Europe, valuation of conventional banks has been affected by new regulations and weak profitability. For instance, Barclays bank shares have been on the recovery path for more than a decade. Revolut investors are positive that the fintech company will have better growth prospects compared to those of conventional lenders.

Revolut’s valuation hit the $33 billion mark in 2021 following an $800 million funding round that it won after jostling with Checkout.com and Klarna for Europe’s most valuable startup title. The latest Europe valuation share sale places Revolut at the top of the list.

Banking License

Revolut recently secured a UK banking license following a three-year wait that resulted from difficulties in scrutinizing its internal accounting procedures. Investors are confident that with the license, the fintech company will lure customers who opt for app-based banking from leading street banks.

Revolut can do this without incurring the cost associated with maintaining a network of branches. In 2023, the company announced a pre-tax profit of $564 million and $2.2 billion in total revenue.

The size of the latest Revolut share sale has not been disclosed. It’s also unclear whether Storonsky also cashed part of his stake in the share sale. Previously, Sky News reported that the CEO would sell part of his stake.

The post Revolut is Now Europe’s Most Valuable Startup appeared first on Tech Research Online.

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According to Tech.eu, the funding from Meridien stake will enable DKK partners to move its global expansion plan forward.

Meridien specializes in CRM, global payments, and the banking industry, while DKK Partners specializes in foreign exchange liquidity and emerging markets.

Consistent Growth

Last year, DKK partners grew its transaction flow to $1.3 billion. Its EBITDA hit the $2 million mark with a 150% CAGR. The firm also expanded to key markets, opening offices in London, Dubai, Nigeria and Senegal.

“DKK has an incredible growth story, a fantastic customer base, and a scalable business model, alongside a strategic partnership with Seed Group, makes them a game changing VASP in the region. The partnership with DKK, in conjunction with our other acquisitions of listed and regulated financial institutions, is perfect for Meridien and its preparation to list on the NYSE, driving the goal of creating a revolutionary business model in the industry of global payments, banking and correspondent services,” Meridien Holding CEO, Erik Lara Riveros said.

Strategic Alliance

The Meridien-DKK merger deal includes forming a strategic alliance that complements their business plans. The two companies plan to do this by acquiring banking and forex liquidity capabilities. Additionally, the DKK-Meridien merger deal allows both companies to focus on securing global payments. DKK will get shares in Meridien in addition to cash injection to facilitate its rapid expansion.

“This is a pivotal moment for our business and it’s a real honor to partner with Meridien as we enter our next phase of growth. Both businesses have shared values and a commitment to excellence, and we’re thrilled to be working to build a truly disruptive global brand that will redefine the payments industry,” DKK Partners Co-Founder, Khalid Talukder said.

Earlier in the year, DKK collaborated with the Seed Group to facilitate efficient and transparent transactions for financial institutions. The fintech company also got initial approval to provide Virtual Asset Broker Dealer services in Dubai.

Future Plans

Meridien Holdings plans to acquire financially regulated firms in multiple geographies. The goal is to aggregate the institutions and create seamless transfer of value throughout the Meridien ecosystem.

The post Meridien Boost NYSE Listing Plans with DKK Merger appeared first on Tech Research Online.