Revolut cofounder and CEO Nik Storonsky has gradually removed VCs from the company's board over several funding rounds, calling them potentially "dangerous" to a scaleup's growth. Speaking at a recent event, Storonsky emphasized that venture capital firms often prioritize short-term exits over long-term value creation, which can misalign with founders' visions. "VCs are not always on your side," he said. "They may look friendly, but their interests are not necessarily aligned with yours." Revolut, which has raised over $2B from investors including Tiger Global and Insight Partners, has moved toward a more founder-controlled governance structure. Storonsky noted that the company's valuation recently reached $33B, making it one of Europe's most valuable startups. He also criticized the traditional VC model, saying many firms focus too heavily on quick returns rather than building sustainable businesses. "The goal is to build something lasting, not just to flip the company," Storonsky added.
Storonsky's comments reflect growing tensions between founders and investors in the tech sector, particularly as startups face increasing pressure to deliver returns. His remarks come as Revolut continues to expand globally and prepare for a potential IPO.
The CEO also highlighted the importance of maintaining independence and control over strategic decisions, especially during turbulent market conditions. "When you have too many cooks in the kitchen, things can go wrong," he warned.
Source: Sifted · Summarized by HeadlinesBriefing