Revolut targets $150B-$200B valuation for eventual IPO

British neobank Revolut is targeting a market cap of between $150 billion and up to $200 billion for its eventual initial public offering, according to a report by the Financial Times on Tuesday. The target represents a significant valuation jump for the company, which was founded in 2015. However, a public listing is not expected in the immediate future. Nik Storonsky, the co-founder and CEO of Revolut, recently stated that the company’s IPO is at least “two years away,” according to comments reported by Bloomberg.

The targeted public market valuation builds on a period of rapid growth for the company. Revolut was valued at $45 billion in 2024, a figure that rose to $75 billion in its most recent valuation. This upward trajectory is supported by the company’s financial performance for the financial year ended December 31, 2025, which saw substantial increases in both revenue and profitability. According to financial reports, the company’s key metrics include:

• Revenue: $6 billion for the financial year ended December 31, 2025, up from $4 billion in 2024.
• Net profit: $1.7 billion in 2025, representing an increase from $1 billion in 2024.
• User base: 68.3 million retail customers at the end of 2025.
• Total funding: $5.89 billion raised as of November 2025, according to data from PitchBook.

Ahead of the eventual IPO, the company is working on a secondary share sale scheduled for the second half of 2026. A secondary share sale is a transaction where existing shareholders sell their shares to other investors, rather than the company issuing new shares. According to PitchBook and the Financial Times, this upcoming secondary transaction is expected to value the company at more than $100 billion, representing another step toward its long-term public market goals.

The capital and valuation targets come as Revolut continues to expand its operations across multiple markets. The company secured a full banking license in the United Kingdom in March. Beyond the United Kingdom, Revolut holds a banking license in Europe and operates in Australia, Japan, New Zealand, Singapore, Brazil, and the U.S. The company has also launched operations in India, is preparing to enter Colombia, and has received a banking license in Mexico.

Why it matters

The potential valuation of up to $200 billion would mark a significant jump for the company, signaling strong investor confidence following its recent United Kingdom banking license acquisition and consistent profit growth.