Observed Signal · Sep 18, 2026 · IPO · Source: Trending Topics (DACH/CEE Innovation & Tech) · Impact: 2/5 · Sentiment: Neutral
Revolut plans dual US and UK listing, targeting $200 billion valuation
Revolut, the London-based neobank, is considering a dual stock market listing in New York and London, with co-founder and CEO Nik Storonsky revealing the plans in an interview with Les Echos. The company is targeting a valuation of up to $200 billion for its IPO, expected no earlier than 2028. Storonsky expressed a preference for the US market due to its larger investor pool, but aims to maintain a presence in London. This move follows similar actions by Wise, which moved its primary listing to New York. Revolut was last valued at $75 billion in a funding round, so the target valuation would require nearly tripling its value. The company's US expansion, including conditional approval for a US banking license, is seen as a key factor for the IPO's success. Revolut plans to invest around €2.3 billion annually in growth through 2030.
Revolut is a fintech company, not directly in adtech/martech, but its IPO and dual listing could impact the broader tech investment landscape.
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Key Takeaways & Evidence Grounding
- Revolut is considering a dual listing in New York and London, targeting a valuation of up to $200 billion.
- The IPO is expected no earlier than 2028, with CEO Nik Storonsky preferring the US market.
- Revolut was last valued at $75 billion in a funding round.
- Revolut received conditional approval for a US banking license from the Office of the Comptroller of the Currency.
- The company plans to invest approximately €2.3 billion per year in growth through 2030.
Connected Companies & Entities
2 Entities mapped“Revolut is considering a dual stock market listing in London and New York.”
“Wise completed a dual listing on both exchanges earlier this year and moved its primary listing from London to New York.”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Revolut Confirms Dual IPO on Nasdaq and LSE
Revolut's co-founder and CEO Nik Storonsky confirmed plans for a dual IPO on both the Nasdaq and the London Stock Exchange. The company is currently valued at $115 billion privately, with internal targets of $150B to $200B at listing. The announcement comes after years of Storonsky criticizing London's market as 'irrational,' and the article analyzes why London is considered the 'best available deal' rather than a true vote of confidence. The piece also discusses Wise's LSE-to-Nasdaq migration as a precedent, and separately covers Meta's launch of its 'Muse' connector, positioning Meta as a potential 'App Store for Agentic Commerce' following its acquisition of Stilla. The newsletter includes bonus content on Revolut's recent data breach and reasons for bullishness on the fintech.
Revolut valuation jumps 53% to $115B in share sale
Revolut has closed a secondary share sale valuing the fintech at $115 billion (€103 billion), a significant leap from $75 billion last year and $45 billion in 2024. Led by Glade Brook, Coatue, Durable Capital, T. Rowe Price, and Baillie Gifford, the deal allowed employees to sell shares at around $2,017 each without raising new capital. CEO Nik Storonsky emphasized employee ownership. The company serves over 80 million retail customers globally and plans to exceed 100 million. It has expanded internationally, launching local banks in Britain, Mexico, Australia, and New Zealand, and obtaining licenses in France, Colombia, Argentina, and preliminary U.S. approval. In Austria, IBANs will be issued from 2027. Revolut reported 2025 revenue of €5.3 billion (up 46%) and pretax profit of €2.0 billion (up 57%). An IPO, potentially at $200 billion, is delayed until after 2028.
Revolut Chases $150B IPO; Robinhood Lists VC Fund
A fintech newsletter reports two industry-significant developments. Revolut is conducting staged secondary share sales to ratchet its valuation from $45B (2024) to $75B (2025) and toward a targeted $150B IPO, with oversubscribed rounds anchored by firms including Coatue, Fidelity, Andreessen Horowitz, T. Rowe Price and Nvidia’s venture arm. Revolut projects £4.1 billion ($5.5 billion) revenue for 2025 and was chosen as one of four firms to test a pound-denominated stablecoin in the UK regulator’s sandbox. Separately, Robinhood filed to list a closed-end venture fund on the NYSE under ticker RVI, targeting $1 billion at $25/share; the fund holds stakes in Databricks, Revolut, Airwallex, Ramp, Oura and others, includes a post-close commitment to buy $14.6M in Stripe secondaries, charges a 2% management fee (halved initially) and carries no performance carry. Both moves could reshape IPO pricing mechanics and retail access to venture exposure.
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