London-based fintech Revolut is targeting a valuation of up to $200bn for a potential initial public offering, the Financial Times reports.
Revolut Eyes $200bn IPO Valuation: Financial Times
The crypto-friendly digital bank, which holds a full UK banking licence, does not plan to list before 2028, the FT said. Investors briefed on the matter cited a target range of $150bn to $200bn.
Revolut obtained its full UK banking licence in March after a process that began in 2021. The approval removes a key structural hurdle for a stock listing and allows expanded services, including protected deposits.
The company added 16mn customers to reach 68mn users and processed $1.7tn in transactions last year. CEO Nik Storonsky prefers a US listing for deeper liquidity and higher tech valuation multiples. Revolut applied for a US national bank charter in March.