Revolut's IPO has been a hot topic for several years. The digital bank now serves more than 80 million customers worldwide, was most recently valued at approximately $115 billion, and reported $2.3 billion in pre-tax profit for 2025. The company remains privately held, but is considering a future dual listing in New York and London.
Revolut was established in London in 2015 by Nikolay Storonsky and Vlad Yatsenko. The company has continued to expand its banking footprint globally, securing a full UK banking licence in March 2026 and a full French banking licence in August. In September, it also received conditional approval for a US national bank charter as it works towards launching a US bank.
Revolut company stats
| Founded | 2015 |
| Headquarters | London, United Kingdom |
| Number of employees | 12,200+ (2025) |
| Number of customers | 80M+ |
| Revenue 2025 | $6 billion |
| Profit before tax 2025 | $2.3 billion |
| Potential stock exchanges | Nasdaq and London Stock Exchange |
| Latest private valuation | ~$115 billion |
| Potential IPO date | Around 2028, subject to market conditions |
How does Revolut make money?
Focusing on both individuals and businesses, Revolut generates revenue through multiple channels. Earnings come from sources including card transaction fees, subscription fees, interchange, interest, cryptocurrency trading, and wealth management products such as savings and stock trading.
The company also generates revenue from credit products such as personal loans, overdrafts and business accounts, alongside payment and other service fees.
As competition between digital banks has increased, Revolut has continued to expand aggressively into international markets. Its footprint now spans more than 40 markets, with banking licences and expansion plans across Europe, the Americas and Asia-Pacific.
Financial performance and growth
Revolut's revenue increased 46% to $6 billion in 2025, while pre-tax profit rose 57% to a record $2.3 billion. Net profit reached approximately $1.7 billion, marking the company's fifth consecutive year of profitability.
Revolut ended 2025 with 68.3 million retail customers after adding 16 million during the year. Since then, its customer base has grown to more than 80 million worldwide, and the company is targeting 100 million customers by mid-2027.
Total transaction volumes reached $1.7 trillion in 2025, while customer balances increased 66% to $67.5 billion. Revolut's growth has been supported by payments, subscriptions, interest income, foreign exchange, wealth services and an expanding lending business.
Revolut IPO status: when, where and what to expect
Revolut has not yet formally filed for an IPO or announced an official listing date.
In April 2026, founder and CEO Nikolay Storonsky said an IPO could happen in around two years, depending on market conditions. This continues to point to a possible 2028 timeline, although the date remains uncertain.
The company has also provided more clarity on where its shares could eventually trade. Storonsky has long expressed a preference for the US because of its deeper capital markets and larger investor base. In September 2026, however, he confirmed that Revolut was considering a dual listing on the Nasdaq in New York and the London Stock Exchange.
No decision has yet been announced on which market would host the primary listing or whether a dual listing would take place simultaneously.
Revolut's private-market valuation has also risen substantially. A secondary share sale launched in July 2026 valued the company at approximately $115 billion, based on a price of $2,017 per share. That represented an increase of more than 50% from the $75 billion valuation reached in a November 2025 secondary sale.
The final IPO valuation has not been set. Earlier reports indicated that Revolut had discussed a potential valuation of as much as $200 billion when it eventually goes public, but any valuation would depend on the company's performance and market conditions at the time of listing.
3 steps to trade a Revolut IPO with Axi
Revolut remains a privately held company, so a Revolut share CFD is not currently available.
If Revolut completes an IPO and market pricing becomes available from Axi's liquidity providers, eligible Axi clients may be able to trade a Revolut share CFD. Product availability and trading conditions will be confirmed if and when the instrument is launched.
- Log in to your live trading account, or open an account with Axi if you don't already have one.
- Once Revolut is publicly listed and an instrument is available, search for Revolut or its confirmed ticker on the Axi Trading Platform.
- Choose your position size, set risk management tools such as stop-loss and take-profit orders if required, and enter the trade.
Trading CFDs carries a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Sources
- Revolut: 2025 Annual Report
- Revolut: 2025 revenue and profit results
- Revolut: conditional approval for US national bank
- Revolut: French banking licence
- Reuters: Revolut considering a dual listing in New York and London
- Reuters: Revolut secondary share sale at a $115 billion valuation
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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.
Santiago Vazquez Munoz
I’m Santiago Vazquez Munoz, a global commercial leader with a career built across banking, financial services, fintech, sales and international growth.
Over the years, I’ve had the opportunity to build and lead businesses and teams across Europe, Latin America, APAC ,EMEA and other international markets. That experience has taught me that sustainable growth is rarely about one great idea. It comes from understanding markets, building the right teams, making disciplined decisions and, above all, executing consistently.
Today, my work sits at the intersection of global sales leadership, P&L management, commercial strategy, governance and business scaling. I’m particularly interested in what happens when strategy meets reality: entering new markets, leading multicultural teams, creating accountability, navigating change and turning ambitious growth plans into measurable results.
This blog is where I share some of those lessons, along with my perspective on leadership, international business, fintech, sales, execution and the realities of scaling organizations across countries and cultures.
I believe strongly in focus, leverage, accountability and execution. But I also believe leadership is a continuous learning process, and many of the most valuable lessons come from the decisions that didn’t work exactly as planned.
My goal here is simple: to share practical ideas oriented to age of AI in Trading, experiences and observations that may help other traders, leaders, entrepreneurs, and commercial teams think differently about growth and execute better
