Revolut, the UK-based neobank with over 70 million customers, has finally clarified its IPO timeline. Co-founder and CEO Nik Storonsky stated in an interview that an initial public offering is likely at least two years away, targeting 2028, ending months of market speculation about a potential 2026 listing. “We’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies,” he explained, emphasizing that going public is more about building credibility than raising capital.
Valuation Soars to $75B, Next Round Could Hit $100B
Revolut’s latest funding round in October assigned a valuation of $75 billion, up from $45 billion previously. According to reports, the company is considering a new private share sale that could push the valuation to at least $100 billion. Storonsky’s comments put to rest rumors that Revolut might file for an IPO this year or remain private indefinitely. The neobank will continue to raise funds through annual share sales, ensuring ample liquidity while delaying the public market debut.
This “delayed IPO, accelerated expansion” strategy mirrors that of other fintech giants like Stripe and Klarna, which have also opted to grow private valuations before listing.
Global Expansion: U.S. Banking License in Progress, LatAm Push
Revolut has recently applied for a banking license in the United States, a process that could take up to a year. In Latin America, the company launched operations in Brazil in 2023, secured a banking license in Mexico, and has applied for one in Peru. Mexico is particularly strategic—Revolut now offers full banking services there, competing directly with local incumbents.
But the biggest prize may be India. Revolut has quietly launched a beta version in the country, rolling out services to 450,000 waitlisted users. According to investor Max Karpis, India CEO Paroma Chatterjee announced that the company is prepared for a full launch in Q2 2026, with a target of attracting 20 million customers by 2030. India’s rapidly digitizing economy and large unbanked population make it a key growth market for digital banks.
Strategic Implications for the Fintech and Crypto Landscape
Revolut’s delay in going public does not signal a slowdown in ambition. The company’s global customer base of 70 million is expected to grow significantly with the India and LatAm expansions. If the India target is met, Revolut could approach 100 million users by 2030, providing a strong narrative for its eventual IPO.
While Revolut has historically offered cryptocurrency trading and custody services, the current expansion focuses on traditional banking products. However, as regulatory frameworks for digital assets evolve, Revolut’s compliance-first approach could position it well to integrate crypto features more deeply in the future.
In summary, Revolut is betting that patience will pay off. By delaying its IPO until 2028 and pursuing aggressive global expansion, particularly in India and Latin America, it aims to enter the public markets with a much larger valuation and a stronger trust base. The next two years will be critical in determining whether this strategy succeeds.