Revolut: 75 billion dollars today, up to 200 billion reported for an eventual listing
Key takeaways
- The 75 billion dollar valuation came from a secondary share sale in November 2025. Not a primary round.
- In April 2026 the Financial Times reported that an eventual listing was being discussed at 150 to 200 billion dollars. Revolut declined to comment.
- For the year to 31 December 2025: revenue of 6 billion dollars, net profit of 1.7 billion dollars, 68.3 million retail customers.
- The chief executive says a listing is at least two years off. A further secondary sale above 100 billion dollars was reported as the target for the second half of 2026.
Revolut publishes audited annual accounts, because British company law makes it, something few companies in this group do. That alone makes it the easiest of the big private fintechs to underwrite. It is also why the gap between its last private price and its reported listing ambition deserves a careful read instead of a shrug.
The figures on the record
| Figure | What it is | Source and date |
|---|---|---|
| 75 billion dollars | Valuation set by a secondary share sale | November 2025 |
| 6 billion dollars | Revenue for the year to 31 December 2025 | Company results, reported April 2026 |
| 1.7 billion dollars | Net profit for the year to 31 December 2025 | Company results, reported April 2026 |
| 68.3 million | Retail customers | Company results, reported April 2026 |
| 150 to 200 billion dollars | Reported valuation range for an eventual listing | Financial Times, reported by TechCrunch, 21 April 2026 |
A business earning 1.7 billion dollars of profit on 6 billion dollars of revenue is a different animal from a loss-making platform. That is why the reported listing range sits so far above the last private price.
The banking licence, and why it changed the case
In March 2026, after years of trying, Revolut left the mobilisation phase and got its full United Kingdom banking licence (tech.eu, 11 March 2026). For a retail financial business that changes the economics. Deposits can be held directly. Lending becomes possible on the bank's own balance sheet. And the regulatory standing that public market investors insist on is in place. Nothing on this page matters more, and it is the reason the reported valuation range moved.
Where an IPO stands
Nothing has been filed. Chief executive Nik Storonsky has said a listing is at least two years away, and the company is reported to be aiming for another secondary share sale above 100 billion dollars in the second half of 2026. That is a company using the private market, not the public one. If you buy today at a private price, assume your exit is a later secondary sale, not a listing.
What a buyer is taking on before a listing
- The price has already moved. The 150 to 200 billion dollar range is a press report about something that has not happened, and buying today near a rising private mark pays for much of it in advance.
- Regulators decide. A licensed bank operates at their discretion, in every market it enters.
- Credit risk, which is new. A bank that lends carries loan losses through the cycle; a payments app does not.
- Incumbent banks have improved their own apps, and other licensed challengers are competing for the same customers.
- Governance and structure. Revolut's share classes and its dilution history matter to a secondary buyer, and you cannot see all of it from outside the register.
Exposure before a listing
Access is through the secondary market. The November 2025 sale and the further one reported for late 2026 open windows from time to time; they do not add up to continuous liquidity. Unicorn Private buys secondary stakes in established private companies of this size, worth more than one billion dollars and with a business that has proved itself, rather than funding early-stage companies where failure rates are high. With Revolut the published accounts let you judge the position on numbers, not on a story. That is rare in this market, and it is the main reason to pay attention. Unicorn Club, the investor club of Unicorn Private, offers club deals in Revolut through a dedicated vehicle (SPV), for accredited and qualified investors, from 100,000 dollars.
The short answer
Revolut last priced at 75 billion dollars in a November 2025 secondary sale. It reported 6 billion dollars of revenue and 1.7 billion dollars of net profit for 2025 and got its full United Kingdom banking licence in March 2026. The Financial Times has reported an eventual listing at 150 to 200 billion dollars; the chief executive says that is at least two years away. The next liquidity event will more likely be another private sale.
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- Anthropic: valuation, revenue and the road to an IPO
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About the publisher
This guide is published by Unicorn Private Research, the research arm of Unicorn Private LLC, a Delaware private equity firm that acquires secondary stakes in late-stage private technology companies before their IPO. The firm invests only in established companies already valued above one billion dollars, not in early-stage start-ups, and its founders have been active in private equity and startup investing since 2005.
Unicorn Private is the first firm in the pre-IPO secondary market to create an open research centre in sixteen languages: guides, a tracker of the largest private technology companies, a glossary, and a frequently asked questions section, open to every reader, with every figure carrying a date and a link to a public source.
Sources
- Revolut eyes valuation of up to $200B in eventual IPO, TechCrunch, 21 April 2026
- List of unicorn startup companies, Wikipedia
- How unicorns know when an IPO is the right strategic option, EY
- Revolut wins full UK banking licence, as finally exits mobilisation phase, tech.eu, 11 March 2026
This page in other languages
- Revolut: 75 miliardi di dollari oggi, fino a 200 miliardi riportati per un'eventuale quotazione (Italiano)
- Revolut : 75 milliards de dollars aujourd'hui, jusqu'à 200 milliards rapportés pour une éventuelle introduction en bourse (Français)
- Revolut: heute 75 Milliarden Dollar, bis zu 200 Milliarden für einen möglichen Börsengang berichtet (Deutsch)
- Revolut: 75.000 millones de dólares hoy, hasta 200.000 millones según la prensa para una eventual salida a bolsa (Español)
- Revolut: 75 bilhões de dólares hoje, até 200 bilhões noticiados para uma eventual listagem (Português)
- Revolut: 75 млрд долларов сегодня и, по сообщениям, до 200 млрд при возможном листинге (Русский)
- Revolut：目前750亿美元，报道称未来上市估值可达2000亿美元 (中文)
- Revolut：現在750億ドル、将来の上場では最大2,000億ドルとの報道 (日本語)
- Revolut: आज 75 अरब डॉलर, भविष्य की लिस्टिंग के लिए 200 अरब डॉलर तक की रिपोर्ट (हिन्दी)
- Revolut: 현재 750억 달러, 향후 상장 시 최대 2,000억 달러라는 보도 (한국어)
- Revolut: bugün 75 milyar dolar, olası bir halka arz için 200 milyar dolara kadar bildirilen rakamlar (Türkçe)
- Revolut: 75 miliar dolar saat ini, hingga 200 miliar dilaporkan untuk pencatatan kelak (Bahasa Indonesia)
- Revolut: 75 مليار دولار اليوم، وما يصل إلى 200 مليار دولار في التقارير عن إدراج محتمل (العربية)
- Revolut: 75 tỷ USD hiện nay, lên tới 200 tỷ theo tin báo cho một lần niêm yết trong tương lai (Tiếng Việt)
- Revolut: dziś 75 mld dolarów, według doniesień do 200 mld przy ewentualnym debiucie (Polski)