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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.

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.

Read the full article from Yahoo! Finance.

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