Revolut Aims for $200 Billion Valuation at IPO

On April 22, news emerged from the Financial Times that Revolut targets a valuation of up to $200 billion at its stock market debut, according to a significant listing plan disclosed to investors. This valuation would place its founder among the wealthiest individuals globally. The London-based fintech group received its full banking license in the UK last month after a four-year wait and stated that it would not seek an IPO before 2028. Investors and insiders told the Financial Times that company executives have discussed a target valuation ranging from $150 billion to $200 billion internally and with select supporters. A source close to the company indicated that a formal valuation target has not yet been established. Revolut declined to comment. This week, Revolut founder Nik Storonsky stated that the company is aiming for an IPO as early as 2028. Under a long-term agreement, if Revolut reaches a $150 billion valuation, Storonsky’s stake in the company will increase by several percentage points; he explained in a Russian interview last December that if the company’s valuation hits $200 billion, his incentive plan would allow him to hold approximately 40% of the shares, valued at around $80 billion. In its latest funding round last November, Revolut was valued at $75 billion, up from $45 billion in 2024, with new investors including chipmaker Nvidia. In the short term, Revolut is preparing for a new round of secondary market share sales, allowing supporters like Balderton Capital and Index Ventures to cash out some equity, expected to take place in the second half of this year, when the company’s valuation is anticipated to exceed $100 billion. Last year, Revolut’s pre-tax profit rose 57% to £1.7 billion, with revenues of £4.5 billion. The company applied for a banking license in the US last month.