Nvidia has invested in London fintech Revolut as the firm secured a $75bn (£57bn) valuation in a secondary share sale.
The chip giant participated in the share sale via its venture capital arm, NVentures, alongside a group of top investors including Andreessen Horowitz, Franklin Templeton, and T. Rowe Price Associates. The transaction was led by Coatue, Greenoaks, Dragoneer, and Fidelity.
Current Revolut employees were given the opportunity to sell as part of this transaction, the fifth share sale opportunity for its employees to date.
Victor Stinga, CFO of Revolut, said: “The level of investor interest and our new valuation reflect the strength of our business model, which is delivering both rapid growth and strong profitability.
“We welcome onboard a series of world-class investors and look forward to working with them for the next stage in Revolut’s evolution.”
The share sale cements Revolut’s status as one of the most valuable banks in Europe, with a market cap higher than Barclays, Lloyds and Natwest.
This story is being updated, more to follow