Revolut IPO Talks Hint at $200 Billion Listing Goal

TLDR

• Revolut discussed a potential IPO valuation of up to $200 billion with investors.
• The company said it will not pursue a public listing before 2028.
• A November secondary share sale valued Revolut at $75 billion.
• Reports indicate Revolut may seek a $100 billion valuation in a 2026 secondary sale.
• Revolut’s pre-tax profit rose 57% to 1.7 billion pounds in 2025.

Revolut has told investors it could pursue a valuation of up to $200 billion in a future stock market listing. The update came months after a November share sale valued the fintech company at $75 billion. However, the company has not set a formal target and does not plan to list before 2028.

Revolut IPO Plans and Valuation Talks

Revolut discussed a potential valuation between $150 billion and $200 billion for a future IPO, the Financial Times reported. Sources familiar with the talks shared the details with the newspaper. However, a person close to the company said no formal valuation has been approved.

The company confirmed that it will not seek a listing before 2028. It also stated that it has not outlined any official valuation goals. These comments followed media reports about internal discussions on future pricing.

Revolut completed a secondary share sale in November last year. That transaction valued the company at $75 billion. The deal positioned Revolut as Europe’s largest fintech firm by valuation.

Media outlets also reported that Revolut plans another secondary share sale in the second half of 2026. Expectations place the post-sale valuation near $100 billion. The company has not publicly confirmed the expected pricing.

Co-founder Nik Storonsky addressed the company’s valuation in December. He said his stake would reach about $80 billion if the company achieved a $200 billion valuation. His comments reflected internal growth ambitions.

Profit Growth and Banking License Expansion

Revolut reported a 57% increase in pre-tax profit for 2025. The company posted 1.7 billion pounds, or $2.3 billion, in pre-tax earnings. However, the growth rate trailed the prior year’s nearly 150% increase.

The company secured a full U.K. banking license in March. This approval allows Revolut to expand regulated banking services in its home market. The license marks a step in its transition toward traditional banking operations.

In March, Revolut also applied for a banking license with the U.S. Office of the Comptroller of the Currency. If approved, the license would allow the firm to operate more like a bank in the United States. The United States remains the world’s largest economy.

The Financial Times reported that Revolut continues discussions with investors about long-term listing plans. However, a source close to fintech reiterated that no formal valuation has been decided. The company continues to prepare for future capital market activity while delaying any listing before 2028.

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