Mubadala, a sovereign wealth fund based in Abu Dhabi, acquired a stake in the fintech company Revolut for the first time. This came through its participation in a $500 million employee share sale, which resulted in Revolut being valued at $45 billion last month.
Revolut achieved a net profit exceeding $200 million, a large portion of which went to the company’s founder and CEO, Nik Storonsky, whose share sale accounted for half of the transaction.
In a related development, data from the Turkish Competition Authority’s website revealed about a week ago that Mubadala Investment, also owned by Abu Dhabi, had submitted a request to acquire full ownership of Getir Perakende Lojistik, a Turkish grocery delivery company.
In June, Getir announced that it had received a new investment of $250 million and outlined plans for restructuring the company by splitting it into two groups, with the aim of focusing on different markets.
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