Revolut, the UK-based neobank with over 70 million customers, has provided a clearer timeline for its long-awaited initial public offering (IPO). Co-founder and CEO Nik Storonsky confirmed in an interview that the company will not go public until at least 2028, pushing back market speculation of an imminent listing.
“Two years away,” Storonsky stated when asked about the IPO timing. He emphasized the importance of going public to build trust: “We’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies.”
Valuation Surge: From $45B to $75B, Eyeing $100B
Despite the delayed IPO, Revolut’s valuation continues to climb. During its latest funding round in October, the firm reached a valuation of $75 billion, up from $45 billion before. Reports indicate that a new private share sale could push this figure to at least $100 billion. Storonsky noted that Revolut will continue raising funds through annual share sales as a bridge to the eventual IPO.
Revolut now serves over 70 million customers globally. The company has applied for a banking license in the United States, a process that could take up to a year. In Latin America, it officially launched in Brazil in 2023, recently received a banking license in Mexico, and has applied for one in Peru.
India Beta Launch: 450,000 Waitlist Users, 20M Target by 2030
India represents one of Revolut’s most ambitious expansion targets. According to investor Max Karpis, Revolut India CEO Paroma Chatterjee revealed that the company has quietly launched a beta version in the country, rolling out services to 450,000 people on the waitlist. Chatterjee expects the full launch in Q2 2026 and aims to attract 20 million customers in India by 2030.
India is a massive digital market, and Revolut sees it as a critical growth engine. The beta phase will allow the neobank to fine-tune its offerings for local users. With approximately 700,000 Indian users on the waitlist overall, the potential upside is significant.
In summary, Revolut is deliberately pacing its path to public markets while aggressively expanding its global footprint, particularly in India and the Americas. The next two years will be crucial as it builds the scale and trust needed for a successful IPO.