Revolut Weighs Dual Listing in London, New York
Revolut Weighs Dual Listing in London, New York
Anonymous
Key Points
1
Revolut has expanded its regulatory footprint, securing or pursuing banking and payment authorizations in markets including Mexico, Australia, Lithuania, France, Colombia, the United Arab Emirates, Peru and the United States, where it has received conditional approval for a banking license.
2
According to Revolut’s latest annual report, the company recorded $2.3 billion in pre-tax profit and $6 billion in revenue in 2025, with revenue rising 46% year over year.
3
Storonsky criticized Britain’s regulatory environment as suffering from “extreme bureaucracy” and described regulators as “extra cautious” during Revolut’s four-year effort to obtain a UK banking license; the license was granted in March.
4
The eventual listing venue could materially affect Revolut’s valuation: Nasdaq would place it alongside U.S. fintech and technology peers with extensive research coverage, while London could lead investors to compare it more closely with banks. Finimize described the valuation range under discussion as roughly $75 billion to as much as $200 billion.
5
A Revolut listing would be part of a broader effort to revive London’s IPO market; Vue cinema chain chief executive Tim Richards separately said the company was considering an LSE debut and that there was “too much gloom” surrounding the UK market.
Revolut, Europe's most valuable fintech at $115 billion, is weighing a dual listing on Nasdaq and the London Stock Exchange, though CEO Nik Storonsky views the US market as superior due to stronger liquidity and a wider investor base Yahoo Finance. The move could reshape London's IPO landscape, which has struggled to attract major new listings in recent years.
An eventual London listing would require overcoming Storonsky's past criticism of the UK's regulatory hurdles and 0.5% stamp duty on share trades. However, a temporary exemption for qualifying new listings could sweeten the deal Retail Banker International. Revolut signaled an IPO is unlikely before 2028.
Revenue Growth and Global Banking Expansion
Revolut reported $6 billion in revenue for 2025, up 46% year over year, alongside $2.3 billion in pre-tax profit Retail Banker International. The fintech has secured or is pursuing banking licenses across eight countries including Mexico, Australia, the UAE, Peru and Colombia.
The company received conditional approval for a US banking license and finally obtained its UK banking license in March after a grueling four-year regulatory process Yahoo Finance. This global footprint positions Revolut as a major player ahead of any public offering.
Why the US Market Remains Storonsky's Top Choice
Nasdaq offers Revolut placement alongside US fintech and technology peers with extensive analyst coverage, which typically drives higher valuations Crypto Briefing. The US market also attracts hedge funds, institutional investors and retail traders at much greater scale than London.
Storonsky previously slammed London's "extreme bureaucracy" and described regulators as "extra cautious." Nasdaq's deeper pool of capital makes it the natural home for a fintech seeking premium pricing on the public markets.
Valuation Could Swing Wildly Based on Listing Location
Internal discussions have targeted a valuation range of $75 billion to $200 billion, depending partly on where Revolut lists Crypto Briefing. A US debut would likely attract technology-focused investors who prize growth and scale over dividends.
A London listing could invite comparisons to traditional banks rather than tech firms, potentially dampening the valuation multiple. The venue choice will shape which investor base and analyst community covers the stock, materially affecting Revolut's market price.
London Eyes Revolut as a Catalyst for IPO Revival
A Revolut listing would be a landmark event for the London Stock Exchange, which has seen a sharp decline in major new listings over the past two years Yahoo Finance. The fintech would rank among the exchange's largest companies by market value if it chose to list there.
Vue Cinema's chief executive Tim Richards separately signaled his company was considering an LSE debut and criticized the "too much gloom" surrounding the UK market Yahoo Finance. A Revolut dual listing could help restore investor confidence in London as a destination for growth companies.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
14
Articles
72
Reach
86
A
AnonymousAuthor
