Revolut is extending its timeline for its initial public offering following the acquisition of a complete banking license in the UK and resuming its expansion into the US.
According to Chief Executive Nik Storonsky, the company intends to conduct its IPO in approximately two years, positioning any potential listing in 2028. This adjusted schedule refines previous estimates of two to three years and demonstrates the fintech firm's decision to delay going public in order to further develop its banking framework.
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Storonsky emphasized that a listing on the stock market serves not only to increase liquidity but also to establish trust and credibility as a reputable financial entity. This strategic approach aligns with Revolut's evolution from a mere payment application to a comprehensive platform offering banking services, trading options, lending opportunities, and digital asset management.
Established in 2015 by Storonsky and Vlad Yatsenko, Revolut has since grown to cater to approximately 70 million clients and has expanded its operations to encompass over 40 markets. The recent decision by the company signifies a departure from expectations of an imminent public offering.
Revolut has utilized secondary share sales as a means to generate liquidity for both employees and initial investors, thereby prolonging its ability to operate independently.
The most recent secondary transaction, finalized in November, appraised the company at $75 billion, a significant increase from its value of $45 billion the year before.
In 2026, it is rumored that there may be another opportunity for a secondary sale. This would provide Revolut with an additional option for handling shareholder liquidity prior to a potential public listing. According to previous reports, the company is aiming for an IPO valuation of no less than $150 billion, a milestone that would position it above numerous prominent European banks in terms of market value.
During its private phase, Revolut has witnessed a notable improvement in its financial standing. In 2024, the company disclosed a revenue of approximately $4 billion, marking a 72 percent increase from the previous year, and reported pre-tax profits of $1.4 billion, representing a substantial growth of 149 percent.
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Subsequently, in 2025, Revolut reported a revenue of around $6 billion, with profits increasing by 57 percent year-on-year to approximately $2.3 billion. This impressive performance has enabled the company to sustain profitability for five consecutive years. In March 2026, Revolut achieved a significant milestone in its strategy by obtaining a complete UK banking license from the Prudential Regulation Authority after undergoing a thorough evaluation process.
This approval was the result of an 18-month period of preparation and extensive deliberations with British regulatory bodies regarding risk management and anti-money laundering measures. As a result, Revolut now holds full banking privileges within its domestic market. In the corresponding month, the organization submitted an application for a national bank charter in the US with both the OCC and the FDIC. Additionally, Revolut selected Cetin Duransoy, a previous executive at Visa and former chief executive of Raisin US, to oversee its operations in America. Acquiring a banking license in the US would grant the company direct access to Federal Reserve payment systems and permit the provision of loans and credit cards on a broader scope.
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Storonsky emphasized the crucial importance of trust in the banking industry. This is why Revolut is taking a patient approach to entering the public markets. The company's primary focus is on expanding its presence in key markets, which may take precedence over the immediate plans for an IPO.
Revolut's initial focus was on addressing expensive foreign exchange rates, unclear bank charges, and sluggish international transfers. Over time, the company has expanded its services to include a wider range of financial solutions such as current accounts, corporate banking, stock market transactions, borrowing options, access to cryptocurrencies, and mobile data through eSIM technology.
The business also provides trading services for over 300 digital tokens, establishing itself as one of the leading cryptocurrency-friendly banking platforms in Europe. The array of products offered by Revolut has allowed it to distinguish itself from other fintech companies like Chime, Monzo, Starling, and N26. Based on the data provided, these competitors are either not profitable, have a smaller market presence, or both. Revolut's diverse customer base, global market reach, and advancements in banking services have positioned it uniquely within the industry.