UK-based neobank Revolut is weighing a potential initial public offering (IPO) within the next two years, but CEO Nik Storonsky has clarified that the company will not go public until at least 2028. With over 70 million customers and a valuation of $75 billion following its latest funding round in October 2025—up from $45 billion—the digital bank is prioritizing trust and regulatory milestones before listing.
IPO Timeline: 2028 at the Earliest
In a recent interview, Storonsky ended market speculation about an imminent IPO, stating, “Two years away” when asked about timing. He underscored the importance of being a public company for a bank: “We’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies.” While the IPO is delayed, Revolut will continue to raise capital through annual private share sales. The last such transaction valued the firm at $75 billion, and reports suggest the next round could push the valuation to at least $100 billion.
Global Expansion Strategy: US, Latin America, and India
Revolut is aggressively expanding its geographic footprint. In the United States, it has applied for a banking license—a process that could take up to a year. Latin America remains a key focus: the company launched operations in Brazil in 2023, recently received a banking license in Mexico, and has applied for one in Peru. However, the most promising frontier is India. Revolut has quietly launched a beta version in the country, rolling out services to 450,000 people on its waitlist. According to investor Max Karpis, India CEO Paroma Chatterjee stated that the company is prepared for a full launch in Q2 2026 and plans to attract 20 million customers in India by 2030.
From Neobank to Full-Fledged Digital Bank
Revolut’s transformation from a payments-focused app to a comprehensive digital bank is evident in its licensing achievements. In Mexico, it began offering full banking services after obtaining a banking license through direct application. This shift allows Revolut to offer loans, deposits, and other traditional banking products, enhancing customer stickiness and revenue diversification. As competition in the fintech sector intensifies, Revolut’s delayed IPO and global expansion strategy reflect a broader industry trend: moving from growth-at-all-costs to building sustainable, trust-based banking operations. The next two years will be critical as the neobank navigates regulatory hurdles in the US, scales its India presence, and prepares for a landmark public listing that could value it at over $100 billion.