Revolut Eyes $200B Valuation Ahead of Potential 2028 IPO

Revolut targets a $150–$200 billion valuation by 2028, fueled by record $2.3B profits, a UK banking license, and aggressive expansion into the US market.

The move follows a series of regulatory breakthroughs and record financial results that are transforming the company from a fast-growing startup into a global banking contender.

CEO Nik Storonsky has signaled that an initial public offering (IPO) is not expected before 2028, with a clear strategy: the company wants to go public from a position of maximum strength. Despite its British roots, management continues to view the United States as the preferred destination for a listing, aiming for the deeper liquidity of American markets.

Financial Growth Justifying High Ambitions

Results for 2025 provide a solid foundation for the high valuation. Revenue jumped by nearly 50% to approximately $6 billion, while pre-tax profit reached $2.3 billion—marking the fifth consecutive year of sustainable profitability.

The user base also continues to grow rapidly, reaching approximately 70 million customers globally. Business diversification is playing an increasingly important role, with multiple product lines—ranging from corporate services to wealth management—now generating significant revenue independently.

This combination of scale, profit, and product diversity places Revolut in a different category—not just as a fintech, but as a full-fledged digital bank with global reach.

Regulatory Breakthroughs and US Expansion

A key catalyst for the valuation is regulatory progress. In March 2026, the company obtained a banking license in the UK after years of preparation. This allows it to expand its operations with credit products such as mortgages and overdrafts in its home market.

In parallel, Revolut is strengthening its presence across the Atlantic. Within the last month, the company officially filed an application for a national banking license in the US—a move that could unlock access to one of the largest and most lucrative lending markets in the world.

Private Deals as a Bridge to IPO

Before the public listing, Revolut is preparing a secondary share sale planned for the second half of 2026. Expectations are that this sale will value the company at over $100 billion, providing liquidity for early investors and employees.

Among these investors are major names like SoftBank and Tiger Global, who will be able to partially realize profits without waiting for the IPO.

Such a deal would act as an intermediate stage toward the higher target valuation for the future listing.

Competing with Traditional Banks

If Revolut reaches the upper end of its target valuation, it would imply a market value exceeding the combined capitalization of traditional banks like Barclays, Deutsche Bank, and Société Générale.

Such a scenario would solidify the company’s transformation from an “innovator” into a dominant player in the financial system. For Nik Storonsky, this would also have a personal financial impact—a potential stake worth tens of billions of dollars.

With a horizon focused on 2028, Revolut’s strategy appears centered on one goal: building a fully functional global banking model—including in the US—before appearing on public markets. In this context, a target valuation of $150–$200 billion no longer seems ambitious so much as a logical consequence of its current trajectory.