Insiders: Revolut initiates second stock sale for employees, company valuation reaches $75 billion.

On September 2, according to a Reuters report, informed sources revealed on Monday that UK fintech giant Revolut has launched a secondary stock sale for employees, valuing the company at $75 billion. The London-based company is ramping up its expansion efforts to challenge larger traditional banks. A spokesperson for Revolut stated via email on Monday: "The secondary stock sale for employees is underway; we will not comment further until it is completed." Bloomberg reported that this round of transactions prices Revolut shares at $1381.06. In April of this year, the fintech company reported that its annual profits more than doubled, mainly benefiting from strong Crypto Assets trading, Interest income, and card fees, and indicated that it expects to begin operating as a UK bank this year.