Schroder UK Public Private Trust PLC - formerly Woodford Patient Capital Trust, invests in both listed and private UK companies - makes USD13.7 million investment in banking 'superapp' maker Revolut Ltd. Represents the second new private equity investment since the appointment of Schroder Investment Management Ltd as the company's portfolio manager in 2019. Investment follows USD33.00 billion valuation of Revolut after USD800 million funding round led by Softbank Vision Fund 2 and Tiger Global Management.
"This investment is a clear statement of our intent for the company's future strategy. Revolut is the single most high-profile fintech company to emerge from the UK offering a full range of banking services for consumers and small businesses. We are very excited about the significant opportunity ahead of this highly-disruptive business and remain optimistic about sourcing other similarly attractive opportunities as we continue making new investments," says joint Portfolio Managers Tim Creed and Ben Wicks.
Current stock price: 30.75 pence
Year-to-date change: down 0.8%
By Josie O'Brien; josieobrien@alliancenews.com
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