British digital bank Revolut is not aiming for an IPO before 2028. Founder and CEO Nik Storonsky stated in an interview for the Bloomberg reveal “The David Rubenstein Show” that the IPO is still at least two years away. With this, the 41-year-old puts an finish to speculation that the fintech company might already go public this year. The exact timing depfinishs on market conditions at the time.
Storonsky explains the IPO plans by pointing to the importance of trust in banking. Listed companies enjoy greater trust among customers and partners compared to private firms. The current focus should not be on an IPO, but on expanding the business, developing new products, and providing better services for utilizers worldwide. In the long term, however, an IPO could well build sense.
Valuation exceeds Deutsche Bank
With a current valuation of 75 billion US dollars, Revolut is one of the most valuable digital banks in the world, surpassing the market capitalization of Deutsche Bank, which stands at around 65 billion dollars. The most recent funding round in November 2025 had massively driven up the valuation from the previous 45 billion dollars. The company continues to record strong growth: net profit rose by around 60 percent last year to 1.5 billion euros. At the finish of 2025, the neobank counted 68.3 million customers worldwide, including around three million in Germany. Investors include Nvidia and Coatue Management, among others.
Ahead of a possible IPO, Revolut is examining further secondary sales of shares. The company typically conducts such funding rounds every one to two years to create liquidity for early investors and employees. The news agency Bloomberg had already reported in February that Revolut was considering a new share sale this year. Such capital raises typically drive the company’s valuation further upward.
Banking license applied for in the US
Alongside its IPO preparations, Revolut is pushing ahead with its international expansion. In March, the company received a full banking license in the United Kingdom, and recently followed this up by applying for a US banking license. The head of the US region is Cetin Duransoy, a former Visa executive. Revolut has been active in the United States since 2020 and works with partner banks there to serve customers. Storonsky expressed confidence regarding the approval, pointing to the new US government as well as the banking licenses already held in other countries.
The US market is considered difficult terrain for European digital banks. Revolut’s competitor N26 from Germany had abandoned its US ambitions in early 2022 after just two years, as the expansion plans did not prove financially viable. Without their own license, fintech companies are depfinishent on partner banks, which frequently leads to inflexible partnerships and regulatory vulnerability, as the partner bank is liable for any potential misconduct by the fintech. With its applied-for license, Revolut is taking a different approach to overcome these hurdles and sustainably tap into the important American market.
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