Private valuation history
Dated private-company valuations · USD
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$75B▲ +66.7% since first observationLatest observation · 2025 fundraising
- Private valuation
2024 secondary2024 secondary2025 fundraising2025 fundraising
First valuation$45B2024 secondary
Latest valuation$75B2025 fundraising
Observations22024 secondary – 2025 fundraising
Valuation change+66.7%since first observation
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IPO recap
Offering not completed
IPO date, ticker, and IPO offer price are not yet confirmed.
Filed—
Pricing—
First trade—
Lockup ends—
The short version
Revolut is expanding its regulated banking footprint. Conditional US approval and September acquisition clearance are confirmed developments, while its potential dual listing has no final timetable.
Key takeaway 1
Conditional US approval is confirmed; remaining permissions are still needed.
Key takeaway 2
The group is considering listing options without a final offer timetable.
Key takeaway 3
Annual profit, customer balances and private valuation answer different questions.
Company in detail
Revolut combines accounts, payments and financial services for retail and business customers. Its international model operates through local regulated entities, making the scope of each permission important. A banking approval in one country should be read alongside the rules, capital requirements and products of that entity.
The group reported £4.5 billion of revenue and £1.7 billion of profit before tax for 2025. Those are annual results, unlike customer balances, which represent funds held for customers. The November 2025 private fundraising valuation of $75 billion is another separate measure and does not establish an IPO price.
The US banking process moved beyond its March application when Revolut announced conditional OCC approval on 3 September 2026. It still identified remaining regulatory approvals and a planned 2027 launch of the proposed bank. Conditional approval therefore provides evidence of progress while leaving meaningful steps unfinished.
Revolut also announced Argentine central-bank approval for its Banco Cetelem acquisition on 24 September. Our assessment would examine how geographic expansion changes compliance costs, funding needs and the sources of earnings. Growth in customer numbers alone does not reveal the profitability of a new market.
September reporting described consideration of a New York and London dual listing. That remains an option rather than a launched offer. As of 7 October 2026, no final IPO timetable, public offer price or definitive venue was identified. A future prospectus would need to explain the group structure, governance and earnings mix across the expanding business.
Operating metrics
Retail customers
68.3 millionReported FY 2025 year-end customers.
Dec 31, 2025Customer balances
GBP 50.2 billionCompany-reported year-end balances; not revenue.
Dec 31, 2025FY 2025 revenue
GBP 4.5 billionReported annual revenue for the completed 2025 financial year; issuer also presents illustrative USD figures.
Dec 31, 2025FY 2025 profit before tax
GBP 1.7 billionReported annual profit before tax; different from net profit and customer balances.
Dec 31, 2025Global customers
More than 80 millionGlobal customer figure in the conditional-approval announcement; different date and scope from year-end 2025 retail customers.
Sep 3, 2026Company profile
- Legal name
- Revolut Group Holdings Ltd
- Founded
- 2015
- Headquarters
- London, United Kingdom
- Co-founders
- Nik Storonsky and Vlad Yatsenko
- CEO
- Nik Storonsky
- Offering
- Retail and business accounts, payments and financial services
- US banking status
- Conditional OCC approval announced 3 September 2026; FDIC, Federal Reserve and final OCC approvals still required
- Employees
- No published figure
Timeline
- Employee share sale
Secondary transaction at USD 45 billion private valuation.
- Private fundraising
Completed financing process at USD 75 billion reference valuation.
- US charter application
Announced a US bank charter application.
- Conditional US banking approval
OCC conditionally approved the proposed national bank; remaining approvals identified and launch planned for 2027.
- Argentina acquisition approval
Announced central-bank approval for the planned Banco Cetelem acquisition; approval alone does not establish completed closing.
Global customers
More than 80 millionGlobal customer figure in the conditional-approval announcement; different date and scope from year-end 2025 retail customers.
Deal size
—Not confirmed
Private fundraising valuation
USD 75 billionNovember 2025 private financing reference; not an IPO valuation.
Employees
—No published figure
Retail customers
68.3millionReported FY 2025 year-end customers.
Customer balances
GBP 50.2 billionCompany-reported year-end balances; not revenue.
Revenue
Reported financial periods · GBP
£4.5BFY2025 (rounded)
FY2025 (rounded)
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Financial figures by period
| Period | Revenue | As of |
|---|---|---|
| FY2025 (rounded) | £4,500,000,000.00 | Mar 24, 2026 |
Net income
Reported financial periods · GBP
£1.3BFY2025 (rounded)
FY2025 (rounded)
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Financial figures by period
| Period | Net income | As of |
|---|---|---|
| FY2025 (rounded) | £1,300,000,000.00 | Mar 24, 2026 |
Valuation & peers
Price-to-sales, revenue growth and gross margin
Comparable metrics unavailableComparable company figures for the same date are not available.
Revenue growth (%)
| Company | P/S | Growth | GM |
|---|---|---|---|
| Revolut | — | — | — |
| No published peer comparison | |||
Context: Private financing valuations and modeled market values do not establish an IPO valuation. Revenue run-rate is not used here to calculate a price-to-sales ratio.
Private valuation and funding details
Private fundraising valuation
USD 75 billionNovember 2025 private financing reference; not an IPO valuation.
IpoHub score
How we score—Not rated
Balance sheet—
Growth—
Community—
Profitability—
Valuation—
Individual category scores are not available.
Where the money goes
—
Use of proceeds—
Allocation percentages—
Net proceeds—
Details on the use of IPO proceeds are not available.
Key risks
Editorial analysisRegulatory execution
New markets require local permissions, capital and controls; expansion milestones do not settle all operating requirements.
Earnings mix
Our assessment would test the durability of fees, interest income and other earnings through different market conditions.
International complexity
More jurisdictions can increase compliance, operational and governance demands.
Deal terms
- Ticker
- Not confirmed
- Exchange
- Not confirmed
- IPO price
- Not confirmed
- Price range
- Not confirmed
- Pricing date
- Not confirmed
- First trading day
- Not confirmed
- Shares offered
- Not confirmed
- Deal size
- Not confirmed
- Underwriters
- Not confirmed
- Greenshoe shares
- Not confirmed
- Lockup
- Not confirmed
- Quiet period expirations
- Not confirmed
Revolut IPO: where and how to invest
Where can I invest in the Revolut IPO?
The Revolut IPO is currently marked as rumored; public share trading is not yet confirmed in this profile. If IPO subscriptions become available, you need a broker offering that specific deal to investors in your country. Having an account does not guarantee an allocation. After a confirmed listing, you can look for a broker that supports the relevant exchange.
Can I buy Revolut shares now?
Public trading in Revolut shares is not yet confirmed here. An announced or priced offering does not automatically mean you can buy the stock on an exchange. An IPO subscription and a private share purchase each have separate access requirements.
When is the Revolut IPO?
A confirmed first trading day for Revolut has not yet been published here. Check official company announcements and final offering documents; a planned timetable can change.
What is the Revolut IPO share price?
A confirmed IPO offer price for Revolut has not yet been published here. Private funding valuations and modeled private-market prices do not establish the eventual IPO share price.
What is Revolut's stock ticker and exchange?
A stock ticker for Revolut has not yet been confirmed here. An exchange has not yet been confirmed here. A proposed symbol or exchange does not establish that trading has begun. Verify the final listing announcement before placing an order.
Can I buy Revolut shares before the IPO?
Private transactions or funds may sometimes provide exposure to Revolut if a specific offer exists and you meet its requirements. This profile does not confirm an available private offer. A fund interest may provide indirect exposure rather than direct ownership of company shares. Private investments can have resale restrictions, uncertain valuations and limited exit options; a future IPO is not guaranteed.
Where can I find the Revolut IPO prospectus?
Check Revolut's official investor-relations announcements and publications from the relevant regulator and exchange. A confidential submission or an announcement about it is not a publicly available prospectus. Before subscribing, read the final prospectus for the risks, price, share class and offering terms.
More questions about the Revolut IPO
Is Revolut's US bank fully approved?
The 3 September 2026 announcement described conditional OCC approval and remaining FDIC, Federal Reserve and final OCC approvals.
When is Revolut's IPO?
No final offering date was identified as of 7 October 2026.
Will Revolut list in London or New York?
September reporting described consideration of a dual listing; no definitive offering venue is confirmed.
Is $75 billion an IPO valuation?
No. It is the private fundraising reference announced in November 2025.
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