According to the Financial Times, Revolut is targeting a valuation of $150bn to $200bn for a stock market listing, with the London-based fintech indicating it will not seek an IPO before 2028. Executives have discussed the valuation range internally and with select backers, though no formal target has been set. Founder Nik Storonsky's stake could rise to approximately 40% — worth around $80bn — if the $200bn threshold is reached.

In the nearer term, Revolut is preparing a secondary share sale in H2 expected to value the company at above $100bn. The group's last funding round in November valued it at $75bn, and its pre-tax profit rose 57% to £1.7bn on £4.5bn of revenue last year.