Nik Storonsky | FinTelegram News

Tag: Nik Storonsky

September 13, 2024

Revolut Founder and CEO Offloads Shares Worth Between $200 to $300 Million!

Revolut founder and CEO Nik Storonsky offloaded a significant portion of his shares in the fintech giant during a secondary offering in August, raising between $200 million and $300 million. This sale still leaves him with a majority stake valued at $8 billion. As Revolut continues to post strong financial results and expand its services, all eyes are on the company’s next move, with an IPO potentially on the horizon.

July 25, 2024

Finally: Revolut Secures UK Banking Licence After Lengthy Wait!

The UK regulators did not make it easy for Revolut, which was founded in 2015 by Nik Storonsky and Vlad Yatsenko, then Russian citizens. The UK's most valuable fintech firm has finally secured a UK banking license with certain restrictions, following a three-year application process. This milestone will enable Revolut to hold customer deposits and offer own-branded loans, including mortgages, setting the stage for its eventual stock market listing.

July 8, 2024

Revolut Founder Nik Storonsky to Participate in $500M Share Sale!

The Russian-born British citizen Nik Storonsky, founder and CEO of the UK-based fintech giant Revolut, is set to partially cash out his stake in the company through a $500 million (£391 million) secondary share sale, Sky News reports. Storonsky, whose stake in Revolut is valued at several billion dollars, plans to sell shares worth tens to hundreds of millions of dollars in the coming months.

June 21, 2024

FinTech Pioneer Revolut Targets $40 Billion Valuation in Employee Share Sale Despite Missing Bank License!

According to a recent Financial Times report, the UK fintech giant Revolut is aiming for a valuation exceeding $40 billion in an upcoming share sale, according to insiders. This move would solidify its status as Europe’s most valuable startup. The high rating is somewhat surprising given the fact that the UK regulators have so far refused to grant Revolut the requested banking license. Its competitors, Monzo and Starling, have secured banking licensesw a few years ago already.

April 13, 2024

Revolut Secures PPI License in India, Expanding Its Financial Services Reach

Revolut, a fintech founded in 2015 by the then-Russian nationals Nik Storonsky and Vlad Yatsenko in the UK, has successfully secured an in-principal authorization from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPI) in India. This milestone allows Revolut to offer prepaid cards and wallets, bolstering its position as a significant player in the Indian financial market. Meanwhile, Revolut is still waiting for the desired banking license in its home market UK.

January 18, 2024

Wise Reports Revenue Growth and Upgrades Income Guidance Amidst Challenges!

Wise, a London-based FinTech and payment institution, has reported a notable 23% growth in revenue and has upgraded its income guidance. Founded by Estonian entrepreneurs Kristo Käärmann and Taavet Hinrikus in 2011, initially as TransferWise, the company is now listed on the London Stock Exchange. Wise is a kind of antithesis to London-based FinTech Revolut and focuses on product payment processing.

December 24, 2023

Revolut Founder Nik Storonsky With An Impressive £17.8 Million Compensation In 2022! And Some Other Numbers!

UK fintech giant Revolut has released its annual accounts, revealing a substantial 45% increase in revenue for 2022 and 26 million across 35 countries. Costs also surged as the workforce doubled to 6,000 last year. Thus, Revolut swung to a £25 million loss in 2022. Currently, about 8,000 are employed. The company also revealed a 78% pay bump for its highest-paid director, Nik Storonsky, its co-founder and CEO, to £17.8 million.

Fintech

December 21, 2023

Bravo: FinTech Unicorn Revolut With Impressive Revenue Growth!

Revolut, Europe’s most valuable fintech, is about to exceed £1.5B ($1.9B) in annual revenue despite regulatory challenges. The fintech firm’s financial ascent comes amidst a climate of rising interest rates. An investor presentation seen by Bloomberg containing unaudited financials indicated Revolut’s monthly revenue averaged around £125M in the first half of 2023. This puts the company well ahead of its £850M revenue in 2022.

Fintech

June 2, 2023

Impressive: Revolut Acquired More Than 30 Million Customers!

Revolut, the London-based fintech unicorn, has exceeded 30 million customers globally, despite facing ongoing challenges with UK regulators while awaiting a decision on its banking license application. The growth rate is indeed impressive. In November 2022, Revolut announced it had achieved the 25 million milestone. Most of Revolut's user base (6.8 million) resides in the UK, followed by Romania and Poland, with 2.8 million and 2.5 million customers, respectively.

May 22, 2023

Business Client Sues Revolut Over Fraud Facilitation And Money-Laundering Violations!

Revolut, the troubled UK fintech, is facing a lawsuit for facilitating a £600,000 fraud, according to a report by This Is Money. Terna Energy Trading, a company listed on the Athens stock market, has initiated legal proceedings against Revolut, claiming that the fintech firm violated money laundering regulations by failing to prevent a "fraudulent" transaction that took place last year. The court battle will present another challenge for Revolut co-founder and CEO Nik Storonsky.

May 19, 2023

Power Struggle: Revolut May Or May Not Be Granted A Banking Licence In The UK!

Over the last 48 hours, rumors have been circulating about granting the UK banking license to Revolut. One hears that the regulators would deny Revolut the banking license. There was also talk that Revolut had offered the regulators to withdraw the application. The Guardian reports that the UK government intervened and coordinated talks with Revolut as part of its growth strategy. Founded in 2015 by Russian-born Nik Storonsky, Revolut is the highest-valued FinTech in the UK.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.