Revolut Delays IPO Until After 2028

Nik Storonsky, chief executive of the fintech company Revolut, stated that the firm will not pursue an initial public offering before 2028, extending its timeline as a private entity by at least two more years. The announcement came during an interview with Bloomberg, where Storonsky emphasized the importance of building trust before going public, particularly as a bank.

Revolut, founded in London in 2015 by Storonsky and Vlad Yatsenko, has grown rapidly from a currency exchange app into a global digital banking platform serving more than 65 million customers across over 40 markets. The company offers services including payments, trading in over 300 digital tokens, and lending products, positioning it as one of Europe's more crypto-friendly financial institutions. In 2024, Revolut reported revenue of 4 billion, a 72 percent increase from the previous year, with pretax profit rising 149 percent to 1.4 billion. For 2025, revenue reached approximately 4.5 billion, up 46 percent, driven by growth in its loans portfolio, which expanded 120 percent to 2.2 billion. Management projects 9 billion in revenue and 3.5 billion in profit for 2026, marking the company's sixth consecutive year...