Revolut is not publicly traded and remains a privately held company. However, a future Revolut IPO has been discussed for several years, and founder and CEO Nikolay Storonsky has indicated that a listing could take place around 2028, depending on market conditions. Revolut now serves more than 80 million customers worldwide and was most recently valued at approximately $115 billion. The company is considering a potential 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 |
| IPO status | Private company – not yet publicly traded |
| Potential IPO date | Around 2028, subject to market conditions |
| Potential stock exchanges | Nasdaq and London Stock Exchange |
| Latest private valuation | Approximately $115 billion |
| Stock ticker | Not yet confirmed |
| Revolut share price | No public share price – Revolut remains privately held |
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. It now operates across more than 40 markets as it works towards its longer-term goal of becoming a bank in 100 countries.
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. The company reported its 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 its expanding lending business.
Revolut IPO status: Is Revolut publicly traded and when could it go public?
Revolut is not currently publicly traded. It remains a private company and 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 was still around two years away, depending on market conditions. This points to a possible 2028 IPO, although the timing remains uncertain.
Revolut 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 final decision has yet been announced on the listing structure, which exchange would host the primary listing, or whether the two listings 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. This 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 EU 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.
Axi aims to provide CFDs on newly listed shares as they become available. You can learn more about trading IPOs with Axi.
- 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 becomes available, search for Revolut or its confirmed ticker on your Axi trading platform.
- Choose your position size and use risk management tools such as stop-loss and take-profit orders if appropriate before entering the trade.
CFDs are complex instruments and come with 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: French banking licence
- Revolut: conditional approval for US national bank
- Bloomberg: Revolut IPO unlikely before 2028
- Reuters: Revolut considering dual listing in New York and London
- Reuters: Revolut secondary share sale at $115 billion valuation
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
