Revolut delays IPO to 2028; private sales, India beta planned

Revolut said it will not pursue an initial public offering before 2028 and will keep selling shares privately to support growth and valuation, while preparing a public launch of its India beta in the second quarter of 2026.

Co-founder and CEO Nik Storonsky described the IPO timeline as “two years away” and said a public listing matters for trust: “we’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies.” His remarks ended speculation that the company might file this year or stay private indefinitely.

The firm’s most recent fundraising in October valued Revolut at $75 billion, up from $45 billion in an earlier round. Reports indicate a fresh private transaction could push the valuation toward $100 billion. Revolut has used regular private share sales to raise capital while planning a public listing.

Revolut is expanding its global operations and seeking additional regulatory permissions. The company has applied for a U.S. banking license; executives estimate that process could take up to a year. In Latin America, Revolut launched in Brazil in 2023, has secured a banking license in Mexico and has applied for one in Peru.

India is a major growth target. Revolut opened a beta there and is serving customers from a waitlist of about 450,000. Investor Max Karpis reported that India CEO Paroma Chatterjee told him the company is prepared for a full launch in Q2 2026 and aims to reach 20 million users in India by 2030.

Revolut reports it serves more than 70 million customers worldwide. Company leaders said they plan to complete regulatory approvals and expand the user base before pursuing a public listing in 2028 or later, and that private funding will support that work in the meantime.

The decision follows a pattern among digital banks that seek bank licenses and broaden product offerings while they scale internationally. Revolut’s leadership presented the later IPO date as a choice to build public trust and meet regulatory expectations before listing.