Revolut CEO targets 2028 for IPO

· Source: Sifted · Field: Finance & Economics — Banking & Financial Services, Capital Markets & Investment Management, FinTech & Digital Financial Services · Depth: Fundamental Awareness, quick

Summary

Revolut CEO Nik Storonsky has set 2028 as the target year for the fintech giant's initial public offering (IPO), contingent on favorable market conditions. Storonsky emphasized that public company status is crucial for building trust as a bank. This timeline suggests Revolut may not be the first European fintech to list, with Monzo, Starling, and Checkout.com also potential candidates. The caution among fintech executives follows Klarna's disappointing public market performance, where its stock declined from an opening of $52 per share to approximately $15 since its September listing. Revolut, last valued at $75 billion in November after a $45 billion valuation the prior year, plans further secondary share sales every one to two years before its IPO. The company is also pursuing a US banking license, targeting a four-month approval window, having recently secured a full UK banking license in March.

Key takeaway

For investors evaluating European fintech opportunities, Revolut's 2028 IPO target, influenced by market conditions and the need for public trust, signals a measured approach. Your investment strategy should consider the lessons from Klarna's post-IPO performance and Revolut's ongoing pursuit of banking licenses, particularly its US application, as these factors will shape its future valuation and stability.

Key insights

Public trust and market conditions are key drivers for Revolut's planned 2028 IPO.

Principles

In practice

Topics

Best for: Executive, Investor, Entrepreneur

Related on AIssential

Open in AIssential →

Editorial summary, takeaway, and curation by AIssential. Original article published by Sifted.