After a four-year regulatory odyssey, Revolut has finally secured a full banking license in its home market of the United Kingdom. But for CEO Nik Storonsky, the milestone is merely a prerequisite for a much larger architectural shift. The fintech giant is now eyeing an eventual initial public offering with a target valuation of $200 billion—a figure that would cement its status as a global financial titan, though Storonsky suggests the debut may not arrive until 2028.
The logic behind the delay is rooted in the specific optics of the banking industry. Storonsky notes that while private markets offer flexibility, the transparency of public markets confers a level of institutional trust that is non-negotiable for a bank. This pursuit of credibility comes with high stakes: according to reports from the *Financial Times*, reaching the $200 billion threshold would trigger a contractual clause increasing Storonsky’s stake in the company to 40%, a holding worth roughly $80 billion.
In the interim, Revolut’s valuation continues its steady climb. Following a secondary share sale that valued the company at $75 billion—and notably included participation from Nvidia—the firm is preparing another secondary offering for the second half of this year. This upcoming round is expected to push Revolut’s valuation past the $100 billion mark. As the company transitions from a nimble global account provider into a heavily regulated lender, it is already looking toward its next frontier: the United States, where it has recently filed for a banking license of its own.
With reporting from Brasil Journal Tech.
Source · Brasil Journal Tech
