Digital banking and fintech giant Revolut has officially pushed its initial public offering (IPO) timeline to 2028, providing a more precise two-year target after previously guiding for a listing within two to three years. The decision follows the company's recent milestone of securing a full UK banking license from the Prudential Regulation Authority (PRA) in March 2026 and its concurrent application for a US national bank charter.
CEO and co-founder Nik Storonsky emphasized that the IPO is not merely a liquidity event but a strategic move to build greater trust and establish Revolut as a more mature financial institution. "A stock market listing is not only about liquidity, but also about building trust and standing as a more established financial institution," Storonsky stated. This approach aligns with the company's expansion beyond its origins as a payments app into a comprehensive platform offering banking, trading, lending, and digital asset services.
The company's financial performance has strengthened significantly during its extended private phase. Revolut reported approximately $4 billion in revenue for 2024, a 72% year-over-year increase, alongside $1.4 billion in pre-tax profit, up 149%. For 2025, revenue reached roughly $6 billion with profit rising 57% to about $2.3 billion, marking five consecutive years of profitability.
Revolut's valuation has climbed sharply through secondary share sales. A transaction completed in November 2025 valued the business at $75 billion, up from $45 billion a year earlier. The company is reportedly considering another secondary sale in 2026 to provide liquidity for employees and early investors while further boosting its private valuation, potentially toward or beyond $100 billion. Bloomberg has reported that Revolut is targeting an IPO valuation of at least $150 billion, which would place it ahead of major European banks like Barclays, Deutsche Bank, and Société Générale by market value.
The strategic focus is now on executing its banking expansion in two key markets. The UK banking license, granted after an 18-month mobilization phase and years of regulatory discussions, grants Revolut full banking status in its home market. Simultaneously, the application with the US Office of the Comptroller of the Currency (OCC) and the FDIC, led by former Visa executive Cetin Duransoy, aims to secure a national bank charter. This would allow direct access to Federal Reserve payment infrastructure and enable larger-scale lending and credit card offerings in the US.
Revolut's product suite, which includes access to trading in over 300 digital tokens, has been central to its growth, differentiating it from competitors and solidifying its position as one of Europe's more crypto-friendly banking platforms. The company now serves about 70 million customers across more than 40 markets.
