The Latest Breaking News from Revolut

Britain’s newest bank has signed agreements over a secondary share sale at a $45 billion valuation, with existing staff set to cash in their shares as investor Tiger Global increases its stake in the business.

Congratulations are in order to Nik Storonsky, co-founder of Revolut and arguably the most patient businessman in London. He has had to wait a tedious three years to finally secure a British banking licence, opening the door up to further expansion for the $45 billion fintech.

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“We think Europe is going to be one of the most important ecosystems for AI,” Index Ventures's Hannah Seal told Fortune.

The secondary sale will be closely monitored as Revolut has become the crown jewel of the U.K.’s fintech sector and the most valuable private company in Europe.

Nik Storonsky spent the past decade shaking up banking with his financial services firm Revolut. Now the billionaire former Lehman Brothers trader is looking to pull off a similar feat in venture capital.

London-based fintech company has been waiting more than three years for its UK licence to be approved

There are two axiomatic ingredients for building world-changing companies: Capital and talent. In both areas, Britain is at a huge advantage.

Crime statistics show a 34 per cent rise in knifepoint robberies in London last year