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When Is the Revolut IPO? A Comprehensive Guide

April 2, 2023 5:00 pm
Published by: Benjamin Baxter

The fintech industry is a very attractive destination for those looking to invest their money. Revolut, a fintech company and bank, is one of the most highly awaited initial public offerings (IPOs).

Many rumors have been floating around about Revolut going public since 2020. But since nothing has happened yet, the question on everybody’s mind is: when is the Revolut IPO?

In today’s article, I’m walking you through all the latest available information on the Revolut IPO and discussing its current financial situation and future plans.

What Is Revolut and What Does It Do?

Revolut is a financial technology company and a British-Lithuanian bank. It's a provider of financial services (such as crypto, commodity, and stock trading) and banking services (such as peer-to-peer payments, debit cards, currency exchange, and multi-currency bank accounts).

The headquarters of Revolut is in London, but it didn’t obtain a full UK license for banking yet. The process typically takes about three years, but some issues concerning account auditing have caused it to drag out for longer.

The company's Bank UAB operates under a license from the European Central Bank and adheres to the regulations set by the Bank of Lithuania.

To date, you can access and use Revolut's services only if you're a legal resident of the United Kingdom, the EEA (European Economic Area), Switzerland, the United States, Australia, Japan, and Singapore.

The Revolut mobile app supports direct spending and withdrawing from ATMs in 120 currencies. Transfers are also supported in 28 currencies.

As part of providing crypto on-ramp features, the app lets customers exchange cryptocurrencies such as Ethereum, Bitcoin, Bitcoin Cash, XRP, and Litecoin using 25 fiat currencies.

Stock trading through Revolut is commission-free for shares listed on NASDAQ and NYSE (New York Stock Exchange).

Multiple fractional share purchase options are available for users looking to trade shares, but they aren't allowed to transfer any stocks bought via Revolut to another trading broker or platform. If they wish to do so, users must convert or sell their stocks for cash first and then withdraw the funds.

Revolut users also aren't allowed to spend or deposit their crypto assets, but converting them into fiat currencies within the app is possible. Additionally, a 1.5 percent fee is charged for selling or buying crypto.

In 2022, Revolut launched a new feature to support in-app chatting. By allowing users to communicate with each other, Nik Storonsky believes that the company is one step closer to becoming a financial super-app.

Will Revolut Go Public?

Revolut intends to go public, but that's not one of the company's top priorities.

In a November 2022 interview, Nik Stronosky said that he's open to considering an IPO in the next 2 or 3 years if the public market performs better.

He hopes that the Revolut IPO can happen. However, it's not a goal that they are working toward. To Stronosky, an IPO is "maybe a solution to some problems”, such as liquidating stocks or enabling cheaper financing.

Stronosky said that he's always on the lookout for opportunities as an entrepreneur. If, at some point, he thinks that an IPO is a more beneficial move than the company's funding needs and capital offerings, then going public is possible.

What Is the Revolut IPO Outlook?

Revolut's IPO outlook comes down to the extent of growth that the company achieves during the upcoming financial year (or a couple of years).

Revolut does keep developing its platform and adding new services, however, it still didn't obtain a full UK banking license and is running on a digital license for banking.

This means that Revolut can't directly lend to customers. Additionally, state insurance doesn't protect user deposits, which can be problematic later on.

As I mentioned earlier, getting a UK full-fledged banking license typically takes about 3 years, but it's been drawn out due to some issues concerning account auditing.

As authorities are being more strict with applicants' customer knowledge procedures, Revolut hired a risk and compliance team of around 300 professionals.

When Is the Revolut IPO?

A date for the Revolut IPO was supposed to be announced in early 2022 to take place in the same year. Obviously, that didn't happen, so it's tough to predict when the company will IPO.

According to his statement in September 2021, CEO Nik Storonsky says that successfully going public is only possible when Revolut is generating yearly revenue of at least a few billion dollars.

In 2021, Revolut’s total revenue was estimated at around $300 million – a long way from Storonsky’s set range. As such, it’s unlikely for the fintech company to go public any time soon.

No information has been disclosed yet on a Revolut IPO in 2023 or even 2024.

What Is the Value of Revolut?

In its latest funding round in 2021, Revolut was valued at $33 billion. That's quite a jump from its valuation of $5.5 billion in 2020.

What Could Revolut's Stock Price Be?

There's no current estimation of the share price for Revolut in the future. More information will be available as we approach the IPO date.

What Is the ticker symbol for Revolut?

Because Revolut is still a private company, it doesn’t have an official ticker symbol in the stock market.

Who Founded Revolut?

Businessman Nikolay Storonsky and software developer Vlad Yatsenko are the founders of Revolut.

When Was Revolut Established?

Nikolay Storonsky and Vlad Yatsenko established Revolut on the 1st of July 2015.

Who Are Reolut’s Owners?

To date, Revolut is still a private company owned by its CEO and co-founder Nikolay Storonsky who holds 20 percent of the company's stakes.

About 75 percent of the shares are owned by corporate investors, whereas private investors and former company employees own the rest.

Who Is the CEO of Revolut?

British businessman Nikolay Stronosky is the co-founder and CEO of Revolut.

Nikolay Stronosky was Russian by birth and is a British Citizen. He renounced his Russian citizenship in 2022 following the war in Ukraine to solidify his opposing stand to Russia’s actions.

Co-founder and software developer Vlad Yatsenko is from Ukraine.

Does Revolut Generate Profit?

Profitability is a bit vague when it comes to Revolut. As a startup, you can't expect to generate money right away, a waiting period is inevitable.

Revolut is no different. It wasn't profitable for the first few years following its launch, but according to a statement from CEO Nik Storonsky in November 2022, the fintech company is "cash-generating" and "profitable now and was profitable last year too".

So, until a financial statement is published, we're just going to have to take Nik's word for it.

Where Does Revolut’s Money Come From?

Three main revenue channels make up the income source of Revolut. These are banking services, interest, and interchange.

Banking Services Fees

When you use Revolut's banking services, the company turns some profit by charging you fees.

Signing up and using the standard account is free, but you'll pay the fees for higher-grade plans.

Plus accounts charge £2.99 per month, whereas premium accounts charge £6.99 per month. The most expensive plan is the Metal account, which costs £12.99 per month.

The more advanced the account and (the more you pay), the better the benefits you get as a user. For example, cashback, lower investment fees, and more significant spending limits.


Revolut also charges users transaction fees, otherwise known as interchange, just like Starling, Manzo, and other neo-banks do.

For example, Revolut charges Pro customers a payment processing fee of 2.5 percent for online payments and a fee of 1.5 percent for offline payments using Revolut’s Card Reader.

Another example is precious metal conversions. Standard and Plus users get charged a 1.5 percent fee, whereas Premium and Metal users pay a 0.5 percent fee.

The more users join Revolut, the greater the revenue the company generates from fees. In 2020, Revolut generated £261 million, out of which £95.4 million come from the interchange stream.


The funds that Revolut keeps in central banks generate revenue for the company through interest.

However, this income stream doesn’t contribute to the company’s revenue as much as the other profit channels due to the decreased interest rates offered by banks.

The aftermath of the pandemic and the rising cost of living are two main culprits behind lowered interest rates.

What Are Revolut’s Funding Rounds?

With 19 funding rounds up to date, Revolut has accumulated a total of $1.7 billion in capital funding.

The following list is a breakdown of the company’s last 10 funding rounds, arranged from the earliest to the most recent:

  • On the 30th of July 2017, a funding round under the name of “Equity Crowdfunding - Revolut” raised $5.3 million from 4 undisclosed investors.
  • On the 21st of August 2017, a funding round under the name of “Seed Round - Revolut” raised an undisclosed amount from 1 undisclosed investor.
  • On the 26th of April 2018, a funding round under the name of “Series C - Revolut” raised $250 million from 11 investors led by DST Global firm.
  • On the 27th of March 2019, a funding round under the name of “Non-Equity Assistance - Revolut” raised an undisclosed amount from 1 investor led by Future Fifty.
  • On the 17th of February 2020, a funding round under the name of “Series D - Revolut” raised $500 million from 7 investors led by TCV firm.
  • On the 24th of July 2020, a funding round under the name of “Series D - Revolut” raised $80 million from 1 investor led by TSG Consumer Partners firm.
  • On the 5th of October 2020, a funding round under the name of “Venture Round - Revolut” raised an undisclosed amount from an undisclosed investor.
  • On the 1st of January 2021, a funding round under the name of “Secondary Market - Revolut” raised an undisclosed amount from an undisclosed investor.
  • On the 15th of July 2021, a funding round under the name of “Series E - Revolut” raised $800 million from 4 investors led by Tiger Global Management and SoftBank Vision Fund firms.
  • On the 11th of August 2021, a funding round under the name of “Secondary Market - Revolut” raised an undisclosed amount from 3 undisclosed investors.

Who Are Revolut’s Top Investors?

Up to this date, Revolut received funding from a total of 50 investors.

Tiger Global Management, Sprints, SoftBank Investment Advisers, G Squared, Target Global, TCV, Seven Investments, Material V, Red Lions Capital, Da Vinci Capital, and Nyca Partners are among Revolut’s major investors.

Can You Invest in Revolut?

You can purchase Revolut stock through eToro as soon as the IPO is available, to register for the IPO follow the link below, register and make a deposit to fully activate your account.

Register for the Revolut IPO Here!

What Is Revolut's Competition?

Revolut's main competitors are Wise, Starling, and Monzo.

Wise has an edge in the multi-currency aspect, supporting 53 currencies as opposed to Revolut's 30+ currencies. Wise also has slightly lower fees on currency conversion.

Compared to British neo-banks Starling and Monzo, Revolut has more users. In 2021, Revolut recorded more than 15 million registered users, whereas Monzi had 5.8 million active users and Starling had 2.7 million users.

Final Thoughts

So, when is the Revolut IPO? Well, as of now, no one knows.

But if CEO Nik Storonsky’s words are anything to go by, you shouldn’t expect an IPO to happen for at least 2 or 3 years.

The information in this article is well-researched and factual. Still, it contains opinions also, and IT IS NOT FINANCIAL ADVICE and should not be interpreted as such, do not make any financial decisions based on the information in this article; we are not financial advisors. We are journalists. You should always consult with a professional before making any investment decisions. We hold no stock or interests in any of the Companies discussed on this website/app.

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