Revolut Eyes $150 Billion to $200 Billion IPO Valuation as Founder Targets 2028 Listing
Revolut, the UK-based digital banking super-app, is targeting an IPO valuation of between $150 billion and $200 billion, according to sources familiar with the company's plans. Founder and CEO Nik Storonsky indicated that the company is aiming for a public listing in 2028 at the earliest — a timeline that reflects both its rapid growth and the significant milestones it still needs to achieve before going public.
Why the Valuation Range Is Significant
A $150B–$200B IPO valuation would make Revolut one of the largest fintech IPOs in history, eclipsing Stripe's current private valuation and rivalling established financial institutions. Revolut was last valued at $45 billion in a 2021 funding round, making the targeted IPO valuation a 3-4x increase — reflecting both its revenue growth and its expansion into new markets and product lines since then.
Revolut's Growth Story
Founded in 2015, Revolut has grown from a travel card app into a full-service financial platform with banking licenses in multiple jurisdictions, offering current accounts, savings, crypto trading, stock investing, business accounts, and insurance. The company reported its first full-year profit in 2023 and has since accelerated revenue growth across Europe, the UK, and emerging markets. Its user base has grown to over 50 million customers globally.
The Road to 2028
Storonsky's 2028 timeline suggests Revolut has several years of preparation ahead before a public listing. Key milestones likely include securing a full UK banking license (applications have been in process), continued geographic expansion, and demonstrating sustained profitability across multiple quarters. The company will also need to navigate regulatory scrutiny in key markets as it transitions from startup to public company.
Competitive Context
Revolut competes with Monzo, Starling, N26, and traditional banks across Europe, and with PayPal, Wise, and Robinhood in specific product categories. Its breadth of services is its primary differentiator — but also a source of regulatory complexity as different products face different licensing requirements across jurisdictions.
The Bottom Line
Revolut's $150B–$200B IPO target is an ambitious bet on continued hyper-growth in digital banking. While 2028 is several years away, the company's trajectory — consistent profitability, expanding banking licenses, and growing user numbers — suggests the valuation is grounded in genuine business momentum rather than pure speculation.