Revolut aims for a $200 billion valuation in its IPO, but plans to go public in 2028. The firm was last valued at $75 billion during a funding round in November.
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Fintech firm Revolut aims to command a $200 billion valuation when it goes public, according to a new report from the Financial Times, citing investors briefed on the firm’s plans.
At that mark, the firm’s valuation would have jumped more than 160% since its November fundraise, when it completed a share sale that valued it around $75 billion. People at the firm told Financial Times that executives had discussed a target range of $150-200 billion when it goes public.
Earlier this week, though, the firm’s CEO and co-founder Nik Storonsky told Bloomberg’s David Rubenstein that the event won’t take place for another “two years time.”
A source close to the firm told Decrypt no formal valuation target has been made. Revolut declined to comment.
Revenues for the global firm surged to a record $6 billion last year, representing a 46% jump year-over-year as it netted pre-tax profits of $2.3 billion, buoyed by its global market expansion.
As it stands, the firm now operates a licensed bank in 30 of its 40 geographies, including its home country, the United Kingdom. In March, it cleared the regulatory hurdles necessary to become a bank in the UK, earning approval from the Prudential Regulation Authority (PRA) amid its $4 billion commitment to invest in the country.
Prior to that, it launched full banking operations in Mexico and later with Storonsky calling the U.S. “a key pillar of our global growth strategy.”
Revolut is targeting a $200 billion valuation for its IPO.
Revolut plans to go public in 2028.
During its last funding round in November, Revolut was valued at $75 billion.
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At this time, though, the firm does not offer any crypto services to its U.S. customers, but users in eligible jurisdictions can make use of its crypto exchange and custody solutions. In February, it was selected as one of four UK firms to participate in an exploratory stablecoin sandbox ahead of the nation’s launch of stablecoin regulations later this year.
Last year, sources told Decrypt that the firm was actively exploring the launch of its own stablecoin product. It has not yet done so, and predictors on Myriad—the prediction market platform operated by Decrypt’s parent company, Dastan—place odds of the firm launching a stablecoin before July at just 16%.