Revolut Boss Says IPO Won’t Come Until at Least 2028

Revolut’s chief executive says the FinTech wants to go public, just not right away.

Speaking with Bloomberg News in an interview published Monday (April 20), Nik Storonsky said an initial public offering (IPO) for the digital bank might not happen until at least 2028.

“Two years away,” he said in an interview for Bloomberg’s The David Rubenstein Show: Peer to Peer Conversations. “We’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies.”

Storonsky said the company will consider launching more secondary share sales before an IPO, as it typically conducts those transactions every year or two. Revolut’s last such sale valued it at $75 billion, up from $45 billion in 2024.

Bloomberg added that Storonsky’s comments end speculation that the company could go public as soon as this year.

As the report notes, Revolut recently applied for a bank license in the U.S., something that will let it access Federal Reserve payment systems and offer personal loans and credit cards.

Storonsky said authorization for an American bank license could take up to a year, though the company’s “official target” for the U.S. bank charter is four months.

“It’s obviously much easier for us given the new administration, plus that we have so many other banking licenses, plus we have a banking license in the UK now,” he said when asked whether he was confident about Revolut landing the charter. “So for us it became much easier, compared to two years ago.”

As covered here, a banking charter would allow Revolut to stop relying on partner banks and gain control over its own infrastructure.

“Operating through partners limits margins and product scope,” PYMNTS wrote last month. “A charter shifts both. It can be argued that profitability and scale tend to precede regulatory expansion because they provide the capital base and operating record that regulators expect.”

The company’s most recent earnings, that report added, suggest that diversification and profitability are crucial. Revolut’s revenue includes a mix of subscriptions, payments, wealth and interest income, which reduces dependence on any one line.

“That structure supports the move toward regulated banking,” PYMNTS wrote. “Firms that lack that breadth may find that a charter adds cost without delivering sufficient returns.”