A Revolut investor has written billions off its $33bn (£28bn) valuation, two years after the finance app became Britain’s most valuable start-up.
US investor Triplepoint Venture Growth has cut its internal valuation of its Revolut shares by 15pc. The markdown implies a valuation of $28bn, down from $33bn the company was valued at in the summer of 2021.
Investors often adjust their own valuations of privately held companies, independent of the business itself. Triplepoint’s markdown is believed to be the first public downgrade of Revolut’s valuation since 2021’s giant fundraising from investors including SoftBank and Tiger Global.