Business58 mOctober 30, 2026, 18:14

Storonsky says VCs can be 'dangerous', so Revolut's board has none

Revolut CEO Nik Storonsky said he removed venture capital investors from the company's board one funding round at a time, taking losses to do so. He argued VCs are not operational and can be dangerous when they hold power. Revolut is valued at $115bn and operates in 38 countries.

TNW

Open source

Storonsky says VCs can be 'dangerous', so Revolut's board has none

Storonsky pushed VCs off the board each round, accepting losses
Revolut is valued at $115bn and operates in 38 countries
His QuantumLight $250m fund returned a 56% IRR
QuantumLight is now raising a $500m second fund

#Revolut#QuantumLight

Storonsky wants Revolut to be Europe's answer to Meta and Google

Huawei Chair Eric Xu says Chinese AI researchers need to "increase the speed of development" to "see the dangers" of AI, contrasting with US slowdown calls

Roblox says AI agent scraped 145.5 GB including adult content, but none was used for training

Policy

Storonsky says VCs can be 'dangerous', so Revolut's board has none

Storonsky wants Revolut to be Europe's answer to Meta and Google

Huawei Chair Eric Xu says Chinese AI researchers need to "increase the speed of development" to "see the dangers" of AI, contrasting with US slowdown calls

Roblox says AI agent scraped 145.5 GB including adult content, but none was used for training

Oversight Board says Meta's rules for AI deepfakes are 'consistently and fundamentally inadequate'