Revolut CEO Nik Storonsky confirmed a potential 2028 IPO timeline during an interview with Bloomberg’s David Rubenstein, positioning the fintech as a major European listing candidate. The move hinges on market stability, with Storonsky stressing that public listing would enhance Revolut’s credibility as a bank. “We’re a bank and, for a bank, it’s super important to have trust,” Storonsky stated, underscoring the symbolic value of going public despite Revolut’s existing banking licenses across multiple jurisdictions.

The fintech’s IPO ambitions follow a cautious trajectory after Klarna’s underwhelming stock performance post-listing. Klarna’s shares plummeted from $52 to $15 after its September 2021 NYSE debut, prompting fintech leaders to reassess timing. Revolut plans secondary share sales every one to two years ahead of its IPO, with its most recent November 2023 round valuing the company at $75bn—up from $45bn in 2022. $75bn reflects aggressive growth but highlights volatility in the sector.

Regulatory progress remains critical. Revolut’s U.S. banking license approval process is targeted for a four-month window, aided by the new administration’s policies and prior licenses in the UK and elsewhere. The firm secured full UK banking authorization in March 2023 after a five-year regulatory negotiation. UK banking license approvals and U.S. regulatory alignment are seen as key milestones for cross-border expansion.

Storonsky’s remarks signal Revolut’s strategic positioning amid competitive European fintechs like Monzo and Starling, all vying for IPO readiness. While no date is finalized, the 2028 target aligns with broader industry trends of delayed listings post-Klarna’s misstep. Market conditions and investor sentiment will ultimately dictate the timing, with Revolut prioritizing operational stability before going public.