Revolut Targeting $200 Billion Valuation in IPO—But Not Until 2028: FT

Fintech steadfast Revolut aims to bid a $200 cardinal valuation erstwhile it goes public, according to a caller study from the Financial Times, citing investors briefed connected the firm’s plans. 

At that mark, the firm’s valuation would person jumped much than 160% since its November fundraise, erstwhile it completed a stock merchantability that valued it astir $75 billion. People astatine the steadfast told Financial Times that executives had discussed a people scope of $150-200 cardinal erstwhile it goes public.

Earlier this week, though, the firm’s CEO and co-founder Nik Storonsky told Bloomberg’s David Rubenstein that the lawsuit won’t instrumentality spot for different “two years time.”

A root adjacent to the steadfast told Decrypt no ceremonial valuation people has been made. Revolut declined to comment.

Revenues for the planetary steadfast surged to a grounds $6 cardinal past year, representing a 46% leap year-over-year arsenic it netted pre-tax profits of $2.3 billion, buoyed by its planetary marketplace expansion. 

As it stands, the steadfast present operates a licensed slope successful 30 of its 40 geographies, including its location country, the United Kingdom. In March, it cleared the regulatory hurdles indispensable to go a bank successful the UK, earning support from the Prudential Regulation Authority (PRA) amid its $4 cardinal committedness to put successful the country. 

Prior to that, it launched full banking operations successful Mexico and aboriginal applied for a U.S. slope charter, with Storonsky calling the U.S. “a cardinal pillar of our planetary maturation strategy.”

At this time, though, the steadfast does not connection immoderate crypto services to its U.S. customers, but users successful eligible jurisdictions tin marque usage of its crypto speech and custody solutions. In February, it was selected arsenic 1 of 4 UK firms to enactment successful an exploratory stablecoin sandbox up of the nation’s motorboat of stablecoin regulations aboriginal this year.

Last year, sources told Decrypt that the steadfast was actively exploring the motorboat of its ain stablecoin product. It has not yet done so, and predictors connected Myriad—the prediction marketplace level operated by Decrypt’s parent company, Dastan—place likelihood of the steadfast launching a stablecoin earlier July astatine conscionable 16%.