Revolut IPO: Everything you need to know

Revolut's IPO has been a hot topic for some time now. While the outlook for IPOs in 2026 remains strong, external factors such as interest rates and geopolitical conditions may continue to impact investor sentiment. With over 68.3 million retail users worldwide, a $75 billion valuation, and $2.3 billion in pre-tax profit in 2025, the company may soon be going public.

Revolut was established in 2015 in London by Nikolay Storonsky and Vlad Yatsenko and is licensed to provide banking services in over thirty different countries. In March 2026, following a thorough mobilisation phase, it successfully secured its full UK banking license, allowing it to provide full banking services to its 13 million UK customers. It also secured full banking operations in Mexico in January 2026 and filed for a U.S. national bank charter in March 2026, further establishing its global footprint.

Revolut company stats

Source: Bloomberg, Revolut.com, WSJ

How does Revolut make money?

Focusing on both individuals and businesses, Revolut generates revenue through multiple channels. Earnings originate from sources including card transaction fees, subscription fees, interchange rates, interest, cryptocurrency trading, and wealth management solutions such as savings vaults and stock trading.

The company also generates revenue from credit products like personal loans, overdrafts, and business accounts, which incur monthly charges and payment fees.

As the European market has seen a rapid proliferation of neobanks over the past few years, leading to a highly competitive landscape, Revolut continues to expand aggressively in international markets. After expanding into the US, Brazil, Australia, Singapore, Japan, and New Zealand, the company is actively entering Latin America (Mexico, Colombia), Asia (India), and the Middle East.

Financial Performance and Growth

Revolut’s revenue surged to $6 billion in 2025, accompanied by a record pre-tax profit of $2.3 billion. This substantial growth from the previous year was driven by strong performance across all core revenue streams: card payments, subscriptions, interest income, foreign exchange, and wealth services.

More than 68.3 million users are using Revolut. The firm gained 16 million new consumers in 2025 alone, with over 63% of these new customers acquired through referrals. Total transaction volumes surged by 65% to $1.7 trillion, indicating an engaged customer base and increased use of Revolut's services. To support this rapid growth, the company expanded its workforce, reaching over 12,000 employees.

The IPO: When, where and what to expect

While there is no set date in sight, an IPO is expected to take place in 2026 or 2027.

Revolut is now one of Europe's most valuable private companies with a $75 billion valuation following a November 2025 secondary share sale, which allowed employees to liquidate a portion of their holdings to key buyers including Coatue, Greenoaks, Dragoneer, and Fidelity. This sale marks a massive jump from its previous $45 billion valuation in mid-2024 and $33 billion valuation in 2021.

Revolut, unlike its fintech competitors, has not needed to raise funds in recent years, avoiding the significant valuation drops experienced by many of its peers due to high interest rates.

However, it is still unclear where Revolut will list. Initially, the London Stock Exchange (LSE) was the most likely contender due to Revolut's UK headquarters and core market. The company then expressed interest in the Nasdaq in New York, citing its greater liquidity. Revolut officials have recently acknowledged the City's competitiveness as a commercial hub and hinted at the possibility of a London IPO.

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3 steps to trade Revolut IPO with Axi

An Initial Public Offering (IPO) is an investor’s first chance to gain exposure to an organisation. An IPO is a significant milestone for a company looking to raise capital, as well as an opportunity for investors to get involved in a hopefully growing business.

With Axi, you can get exposure to Revolut's IPO as soon as it is listed on a specific exchange and prices from the exchange become available to our liquidity providers.

1. Login to your live MT4 trading account (sign up with Axi if you don’t have one)
2. Navigate to market watch, right-click, and select ‘show all’. Search for Revolut.
3. Choose your position and size and go long or short on share prices. Don’t forget to set risk management tools like a stop loss and take profit order.

Sources: Bloomberg

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The data is sourced from third-party providers. This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.