According to an article by the Financial Times, fintech company Revolut is targeting a $200 billion valuation upon its public listing. Investors familiar with the firm’s strategy have provided insights into these ambitions.
Since its November fundraising round that valued it at approximately $75 billion, the firm could see its worth increase by over 160% if these plans materialize. Financial Times reports indicate that internal discussions suggested a potential IPO valuation ranging from $150 to $200 billion.
However, Nik Storonsky, CEO and co-founder of Revolut, mentioned in an interview with Bloomberg’s David Rubenstein that the company’s initial public offering is not expected for at least two more years. A source close to Revolut confirmed to Decrypt that no formal valuation target has been established, while the firm itself chose not to comment.
Last year marked a significant revenue milestone for the global firm, which recorded $6 billion in revenue—a 46% increase from the previous year—and achieved pre-tax profits of $2.3 billion, driven by its expansion into new markets worldwide.
Currently, Revolut operates as a licensed bank in 30 out of its 40 operational regions, including its home base in the United Kingdom. In March, it overcame regulatory barriers to become a UK bank, obtaining approval from the Prudential Regulation Authority (PRA) after committing $4 billion to invest in the country.
Previously, the company initiated full banking services in Mexico and sought a U.S. bank charter. Storonsky described the U.S. as “a key pillar of our global growth strategy.” Despite these efforts, Revolut has yet to offer crypto services to its American customers, although users in eligible areas can access its crypto exchange and custody solutions.
In February, Revolut was chosen as one of four UK companies to participate in a stablecoin sandbox aimed at exploring the country’s upcoming stablecoin regulations. Last year, sources told Decrypt that the company was considering launching its own stablecoin product, but it has yet to proceed with such plans. According to Myriad—a prediction market platform by Decrypt’s parent company Dastan—there is only a 16% chance of Revolut releasing a stablecoin before July.