Revolut CEO Nik Storonsky has indicated the digital bank's IPO is approximately two years away, a slight tightening of his December 2025 guidance in which he described a listing as most likely two to three years out and not a priority.
The updated framing edges the expected timeline toward 2028. A US listing remains the stated preference, with Storonsky citing greater liquidity, higher valuation multiples for technology companies, and the 0.5% stamp duty reserve tax on UK share dealings as factors.
The comment comes at a point when two significant structural prerequisites for an IPO have been resolved. In March 2026, Revolut received its full UK banking licence from the Prudential Regulation Authority following an 18-month mobilisation phase, bringing UK customers under Financial Services Compensation Scheme protection of up to GBP 120,000 and enabling consumer credit products, including loans and overdrafts. The same month, Revolut filed a national bank charter application with the OCC and FDIC in the US and appointed a dedicated US chief executive.
Financial profile and valuation trajectory
Revolut reported USD 4 billion in revenue and USD 1.4 billion in pre-tax profit for 2024, representing year-on-year growth of 72% and 149% respectively. Management has projected USD 9 billion in revenue and USD 3.5 billion in net profit for 2026. The company serves more than 70 million customers across over 100 countries and holds banking licences in Lithuania, the UK, and Mexico, where it launched full banking operations in January 2026.
A November 2025 secondary share sale involving Coatue, Greenoaks, Dragoneer, Fidelity, Andreessen Horowitz, Franklin Templeton, T. Rowe Price, and Nvidia's NVentures valued the company at USD 75 billion. Bloomberg has reported that Revolut is considering a further secondary in the second half of 2026 that could push the valuation above USD 100 billion, with an eventual IPO target of at least USD 150 billion cited by people familiar with the company's thinking.
The UK government, including Chancellor Rachel Reeves, has made efforts to court a London listing, introducing a three-year stamp duty exemption for newly listed companies. City analysts have largely assessed a primary London listing as unlikely.
