Revolut Delays IPO to 2028 After Securing UK Banking License

Revolut is pushing its public market debut further out after securing a full UK banking license and restarting its push into the United States. Chief Executive Nik Storonsky said the company plans to go public in about two years, placing any listing in 2028. The updated timeline narrows earlier guidance of two to three years and signals that the fintech group is choosing to remain private for longer as it builds out its banking model.

Storonsky said a stock market listing is not only about liquidity, but also about building trust and standing as a more established financial institution. That approach comes as Revolut moves beyond its early identity as a payments app and expands its role across banking, trading, lending, and digital assets. Founded in 2015 by Storonsky and Vlad Yatsenko, the company now serves about 70 million customers and operates in more than 40 markets.

IPO Timeline Moves Back as Revolut Stays Private Longer

The company’s latest stance closes the door on expectations of a near-term offering. Revolut has used secondary share sales to provide liquidity for employees and early investors while extending its private runway. Its most recent secondary transaction, completed in November, valued the business at $75 billion, up from $45 billion a year earlier.

A further secondary sale is reportedly under consideration for 2026. That gives Revolut another route to manage shareholder liquidity before any public listing. Bloomberg previously reported that the company is targeting an IPO valuation of at least $150 billion, a figure that would place it ahead of several major European banks by market value if achieved.

Revolut’s financial profile has strengthened during this private phase. The company reported about $4 billion in revenue in 2024, up 72% from a year earlier, alongside $1.4 billion in pre-tax profit, up 149%. It later posted roughly $6 billion in revenue for 2025, while profit rose 57% year over year to about $2.3 billion. That extended its run of annual profitability to five years.

UK Banking License and US Application Reshape Growth Plans

A major step in that strategy came in March 2026, when Revolut secured its full UK banking license from the Prudential Regulation Authority after a long review process. The approval followed an 18-month mobilisation phase and came after years of discussions with British regulators over risk controls and anti-money-laundering systems. The outcome gives Revolut full banking status in its home market.

The same month, the company applied for a US national bank charter with the OCC and the FDIC. Revolut also appointed Cetin Duransoy, a former Visa executive and former Raisin US chief executive, to lead its American business. A US banking license would allow the company to access Federal Reserve payment infrastructure directly and to offer loans and credit cards at a larger scale.

Storonsky said trust is a core part of operating as a bank. That explains why Revolut appears willing to wait before entering public markets. The company is trying to expand its banking footprint in two major markets at the same time, and that process may carry more weight than the timing of an IPO.

Scale, Product Range and Crypto Access Remain Central

Revolut began by targeting costly foreign exchange, opaque bank fees, and slow cross-border transfers. It has since grown into a broader financial platform offering current accounts, business banking, stock trading, lending, cryptocurrency access, and mobile data through eSIM services. 

The company also offers trading in more than 300 digital tokens, making it one of the more crypto-friendly banking platforms in Europe.

That product range has helped Revolut separate itself from other fintech brands such as Chime, Monzo, Starling, and N26. According to the figures provided, those competitors remain either unprofitable, smaller in scale, or both. Revolut’s customer base, multi-market reach, and banking progress have given it a different position within the sector.