Financial services firm Revolut has reportedly set a $200 billion valuation target for its public listing, which would more than double the startup’s current value.
It would also make Revolut one of the 20 most valuable financial companies in the world, with a potential valuation higher than the current market capitalizations of Charles Schwab, UBS, and BlackRock.
The fintech startup is reportedly planning to remain private until at least 2028, potentially taking advantage of the renewed upturn in venture capital flowing into fintech. According to the Financial Times, the target valuation is also tied to the incentive package for its CEO and founder, Nik Storonsky, who would receive 40% of the company if the valuation target is met.
The firm was valued at $75 billion in a funding round last November, an increase of $30 billion on its 2024 valuation. To reach the new target, it would need to sustain the strong revenue and profit growth seen in recent years. In its full-year 2025 report, Revolut posted $6 billion in revenue and $2.3 billion in pre-tax profit, representing year-on-year increases of 50% and 68%, respectively.
How Revolut could reach its target valuation
While it began as a low-cost way to spend money abroad, Revolut has expanded its offering to cover a broad range of core banking services. It now provides current accounts, budgeting tools, savings, investment services, and a cryptocurrency exchange.
As a participant in the UK’s Open Banking scheme, the company has been able to roll out some of these services while awaiting its full UK banking license, which has now been approved. This could pave the way for additional products such as credit cards, loans, and mortgages.
What makes the company notable is its global outlook, which is difficult for banks to achieve. Even neobanks, with lower reliance on physical branches, typically operate in only a handful of countries. Several have pulled back from international markets due to regulatory challenges and limited demand, as seen with N26 and Monzo in the United States.
Although Revolut remains heavily focused on the UK, with London currently in a frenzied fintech hiring spree, it has expanded to more than 40 countries. These include most of Europe, the United States, Japan, Australia, and several countries in Latin America.
The company now has over 70 million users, more than HSBC and Barclays. While Revolut generates less revenue per customer than these incumbents, it has significant upside through further user growth and the expansion of higher-margin financial services.
Fintech public market perception
A key risk to this valuation is public market sentiment. Fintech companies have struggled with investor confidence in recent years. Block Inc. has shed around 70% of its value since 2022, while Chime, which debuted in 2025, is already trading roughly 32% below its initial valuation.
There have, however, been some success stories. Nubank, one of the closest comparables to Revolut in terms of scale and global ambition, has seen its share price rise by 27% over the past five years. Not spectacular in an era where AI-related announcements can drive rapid gains, but solid nonetheless.
Meanwhile, Robinhood, a leading provider of zero-commission stock trading in the United States, has seen its market capitalization surge over the past year, up 145% since its 2021 IPO.
Also read: Revolut’s push into AI-led checkout shows how the company is expanding beyond banking and deeper into digital payments.
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