Revolut Aims for $200 Billion Valuation at IPO

On April 22, the Financial Times reported that Revolut aims for a valuation of up to $200 billion when it goes public, according to a significant listing plan disclosed to investors. This valuation would place its founder among the world’s wealthiest individuals. The London-based fintech group obtained a full banking license in the UK last month after a four-year wait and stated it would not seek an IPO before 2028. Investors and insiders told the Financial Times that company executives have discussed a target valuation of between $150 billion and $200 billion internally and with some supporters. A person close to the company indicated that a formal valuation target has not yet been established. Revolut declined to comment. Founder Nik Storonsky stated this week that the company is unlikely to go public before 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 reaches $200 billion, his incentive plan would allow him to hold about 40% of the shares, valued at approximately $80 billion. Revolut’s latest funding round in November valued the company 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 secondary market share sale, 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. Revolut’s pre-tax profit grew by 57% to £1.7 billion last year, with revenues of £4.5 billion. The company applied for a US banking license last month.