Revolut plans to wait until at least 2028 before pursuing a stock market listing, reported Bloomberg citing CEO Nik Storonsky.
“Two years away,” Storonsky said about a possible initial public offering in an interview to Bloomberg.
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“We’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies.”
The remarks indicate the London-based digital bank is not preparing for a listing this year and suggest it is not intending to stay private without a public offering.
Storonsky also said the company may pursue additional secondary share transactions before any IPO.
He said Revolut usually carries out such deals every one to two years.
These sales provide liquidity to early investors and staff, help the company remain privately held for longer and have typically led to higher valuations.
Bloomberg reported in February that Revolut was weighing another share sale this year.
A secondary transaction completed in November valued the fintech company at $75bn.
Alongside the increase in valuation, Revolut has been moving ahead with overseas expansion.
The company recently submitted an application for a US bank licence and named former Visa executive Cetin Duransoy to lead the region.
Revolut has maintained a small US business since 2020, relying on partner banks to serve customers.
It had first considered applying for a US bank licence in 2021 but put that plan on hold while focusing on UK regulatory approval, which it obtained in March.
Storonsky said approval for a US bank licence, which would give Revolut direct access to Federal Reserve payment systems and allow it to offer personal loans and credit cards, may take up to a year.
At the same time, the company’s “official target” for securing the US bank charter is four months, he said.
Regarding the gaining of US approval, he added: “It’s obviously much easier for us given the new administration, plus that we have so many other banking licenses, plus we have a banking license in the UK now.
“So for us it became much easier, compared to two years ago.”
