trending
Revolut is beginning to sound more like a future public market heavyweight than a fast-growing European fintech.
Chief executive Nik Storonsky has said the company is around two years away from an initial public offering, a timeline that places a listing roughly in 2028 and gives the group space to keep building scale, credibility and, crucially, valuation.
Revolut eyes an IPO
Bloomberg reported that Revolut is targeting a figure as high as $150 billion, which would place it well ahead of most European banking peers and underline how far digital banking has moved into the financial mainstream.
Why investors are willing to entertain such ambition
The financial performance helps explain the confidence. Revolut reported 2025 revenue of £4.5 billion and pretax profit of £1.7 billion, equivalent to roughly $6 billion and $2.3 billion respectively, as its user base and product breadth continued to expand.
Reuters reported that the company is increasingly focused on turning itself from a secondary spending app into a primary banking relationship, while its 2025 annual report showed that it now has 11 separate product lines generating more than £100 million each in annual revenue.
That matters because markets tend to reward diversification. Revolut is no longer merely a cards and foreign exchange story; it is building a multi-engine model spanning payments, subscriptions, wealth, business banking and lending.
For a prospective IPO investor, that creates a more resilient narrative than one built on a single line of fintech revenue.
Wall Street still looks the likeliest destination
The larger strategic question is where Revolut eventually lists. Storonsky has previously pointed towards the US, attracted by deeper liquidity and the possibility of securing a stronger valuation multiple than London might currently offer. That preference also aligns with Revolut’s push for a US banking licence.
Revolut’s long-awaited receipt of a full UK banking licence marked a pivotal moment for the company, but also for the wider evolution of digital banking in Britain. A US banking licence would broaden its ambition to become a genuinely global financial institution rather than a European success story with international ambitions.
For the payments industry, Revolut’s IPO plan is not just about one company. It is a test of whether global capital markets are prepared to value a fintech platform on terms traditionally reserved for the largest banks and technology groups.
Comments