From $75 Billion to $200 Billion: Revolut’s IPO Ambitions Are Growing Fast

TLDR

• Revolut is targeting a valuation of up to $200 billion for a planned IPO, no earlier than 2028
• The company was last valued at $75 billion in a November 2025 share sale
• A secondary share sale in late 2026 could push its valuation to $100 billion
• Revolut received a full U.K. banking license in March and has applied for a U.S. banking license
• Pre-tax profit rose 57% to £1.7 billion in 2025

Revolut, the British fintech firm known for its crypto and digital banking services, has told investors it is targeting a valuation of up to $200 billion for a future stock market listing, the Financial Times reported on April 21.

The company was last valued at $75 billion during a secondary share sale in November 2025. That means the new target would represent a 125% increase in less than six months.

Revolut has discussed a valuation range of $150 billion to $200 billion with investors ahead of a planned IPO. The company has said it will not seek a public listing before 2028.

Before that IPO, Revolut is also reportedly planning a secondary share sale in the second half of 2026. That sale could value the company at around $100 billion.

No formal valuation has been decided, according to a source close to the company cited by the Financial Times. Revolut did not confirm the figures when contacted for comment.

Co-founder Nik Storonsky said in December that his personal stake would be worth around $80 billion if the company reached a $200 billion valuation.

Profit Growth and Banking Licenses

Revolut reported pre-tax profit of £1.7 billion for 2025, a 57% increase from the year before. That growth rate is slower than the nearly 150% profit increase the company posted the previous year.

In March 2026, Revolut received a full banking license in the United Kingdom, a milestone that had been in process for several years.

The company also applied for a U.S. banking license with the Office of the Comptroller of the Currency in March. If approved, it would allow Revolut to operate as a traditional bank in the United States.

Revolut was founded in 2015 and offers services including money transfers, currency exchange, and cryptocurrency trading. It has grown into Europe’s most valuable startup.

From Startup to Global Expansion

The company has expanded across multiple countries and grown its customer base steadily since launch.

It has been backed by venture capital and private equity investors throughout its time as a private company.

The $200 billion figure, if reached at IPO, would rank among the largest valuations ever seen for a fintech company going public.

Revolut has not announced which stock exchange it plans to list on or confirmed a specific timeline beyond the 2028 target window.

The most recent development is Revolut’s March 2026 application for a U.S. banking license, which remains under review by the OCC.

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