PANews reported on September 2nd that Bloomberg News reported that British fintech company Revolut Ltd. has initiated the process for some employees to sell their shares in the company at a valuation of $75 billion. This latest valuation is higher than the $45 billion valuation Revolut received in a secondary stock offering last year. A memo to employees indicated that the secondary stock offering is valued at $1,381.06 per share, and the company has already met the subscription requirements of new and existing investors. Employees of the London-based company will be able to sell up to 20% of their shares, according to people familiar with the matter.

A Revolut spokesperson said: “As part of our commitment to our employees, we regularly provide them with opportunities to access liquidity. The employee secondary share sale is currently ongoing and we will not comment further until it is completed.”