In its full year results today, listed venture capital investor Molten Ventures said it had written down its holding in Revolut by forty per cent over the past year, slashing the value of its stake from £91.3m last year to £54.5m at the end of March, according to City A.M.
Molten bought its Revolut stake at a discount to the $33bn valuation figure at its last fundraise. However, a wider 40 per cent write down would wipe out some $13bn from its last headline valuation figure.
The move follows a $15bn write down from investor Schroders earlier this year.
Boss Martin Davis told City A.M. this morning that Molten Ventures “does not base its valuations on newspaper reports” but the market needed more clarity from the firm.
“We’re quite encouraged with the direction they’re taking. But the reality is, we all know that there are some proof points the market wants to see around increased revenues for 2022, to get a clean set of accounts 2022,” he said.
“They want to see visibility around profitability, they want to see visibility around the banking licence in the UK. I think once those proof points are hit, and we believe those proof points will be hit, then I think the valuation will recover.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
