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Fintech: Revolut co-founder Nikolay Storonsky becomes UK’s first tech billionaire

Image credits: Revolut

Nikolay Storonsky (36), co-founder and chief executive of the fintech startup Revolut has become the UK’s first technology billionaire. The 36-year old, who co-founded the business in 2014 is now worth £1.06 billion based on his holding in the company. Storonsky was named in the Telegraph’s Tech Hot 100 ranking of fintech leaders. 

With this, Nikolay Storonsky joins the elite group of British billionaires including vacuum entrepreneur Sir James Dyson(£16.2B) and Denise Coates ( £7.3B), who built online gambling behemoth Bet365. Further, the Tech Hot 100 ranking reveals that half of the 10 richest startup founders in the UK were from abroad. 

The co-founder’s wealth is said to have grown substantially due to the significant stake in Revolut, which is now valued at $5.5B (£4.2B) earlier this year after raising $580M in funding.  

Founded by Nikolay Storonsky, and Vlad Yatsenko, Revolut is a financial services company that specializes in mobile banking, card payments, money remittance, and foreign exchange. The company has so far raised $917M (approx £709M). The UK company is on a mission to build a fair and frictionless platform to use and manage money around the world.

Tom Blomfield, founder and former CEO of Monzo came at 19th with a wealth of around £78M, Anne Boden, founder, and CEO of Starling Bank sits at 74th position with a net worth of £18.7M.  

Both the co-founders of TransferWise, Kristo Käärmann and Taavet Hinrikus are in the top 10 list with a combined wealth of nearly £1.3B. 

Rishi Khosla, CEO and founder of OakNorth came in fourth place. Romi Savova, founder and CEO of PensionBee is at fifteenth with a wealth of around £108M. 

Other notable leaders including Charles Delingpole, founder of ComplyAdvantage, Ben Stanway, co-founder of MoneyBox, Ricky Lee founder and CEO of digital banking app sync, Paul Taylor from ThoughtMachine, and others got featured on the list.