To that end, the firm reduced its stake by 46%. After Revolut raised $800 million toward a $33 billion valuation just two years ago, the U.K. fintech space saw a substantial overall dip last year due to inflation, spiking interest rates and amid investor-driven declines.
Estimated reading time: 0 minutes, 23 seconds
Downturn in the U.K. Fintech Space Hits Revolut As Valuation Takes Big Dip
U.K. fintech Revolut saw its valuation take a monster hit as a Schroders Plc investment trust wrote down $5.8 million in its recently published 2022 results. So reports Yahoo! Finance.
Most Read
-
-
Apr 27 2019
-
Written by FinTech News Brief Staff
The Securities and Exchange Commission announced the concept of digital…
-
-
-
Sep 21 2018
-
Written by Jacob Roberts
Online software vendor Kashoo is forming focus group to react…
-
-
-
Jan 09 2019
-
Written by FinTech News Brief Staff
Ripple CEO Brad Garlinghouse said cryptocurrency and blockchain stand to…
-
-
-
Jan 16 2020
-
Written by FinTech News Brief Staff
Representatives from the Reserve Bank of Australia said they are…
-