Revolut plans to go public with a valuation of $200 billion

On April 22, according to the Financial Times, Revolut’s target valuation when it lists on the stock market could be as high as $200 billion, under its major IPO plans disclosed to investors. This valuation would put its founders among the world’s richest people. The London-headquartered financial technology group received a full UK banking license last month after waiting four years and said it would not seek an IPO before 2028.

Investors and people familiar with the matter told the Financial Times that the company’s executives have discussed internally and with some supporters a target valuation of between $150 billion and $200 billion. A person close to the company said no formal valuation target has been established yet. Revolut declined to comment.

Revolut founder Nik Storonsky said this week the company’s IPO could be as early as 2028. Under a long-term agreement, if Revolut reaches a $150 billion valuation, Storonsky’s stake in the company would increase by several percentage points; in a Russian-language interview last December, he explained that if the company’s valuation reaches $200 billion, his incentive plan would result in him holding about 40% of the shares, worth about $80 billion.

Revolut’s most recent funding round in November last year valued the company at $75 billion, up from $45 billion in 2024. New investors included chipmaker Nvidia. In the short term, Revolut is preparing for another round of secondary market share sales, allowing backers such as Balderton Capital, Index Ventures, and others to cash out part of their equity. It is expected to take place in the second half of this year, when the company’s valuation is expected to exceed $100 billion.

Revolut’s pre-tax profit rose 57% to £1.7 billion last year, and revenue was £4.5 billion. The company applied for a US banking license last month.