Revolut, with a $75 billion valuation, is exploring an IPO on two markets.

Revolut's IPO Plans Across Two Markets

Revolut, a London-based fintech company with 65 million users, is exploring the possibility of a dual listing in London and New York. This move could be a significant step towards a potential initial public offering (IPO).

According to the Sunday Times newspaper, this could represent a vote of confidence for London's financial center. Revolut would be the first company listed in New York to simultaneously join the FTSE 100 Index.

The company's value is stated to be approximately $75 billion and it has 65 million users globally. 12 million of these users are located in the United Kingdom. Initially launched as a travel-focused pre-paid card, Revolut has since expanded into areas such as stock and crypto trading, hotel bookings, and business accounts.

According to TheTie data, the company has raised $3.77 billion in funding since its launch. Earlier this year, it intended to raise another $1 billion at a $65 billion valuation.

CEO Nik Storonsky had been pushing for an IPO to allow early investors to exit. He had previously avoided London due to the 0.5% stock trading tax, known as stamp duty. However, Storonsky’s stance seems to be softening.

New rules that came into effect this month allow large firms to join the FTSE 100 in just five days. This change could unlock significant demand from index-tracking funds and boost liquidity.

Last week, at the opening of their new London headquarters, Storonsky described the UK as Revolut’s “home.” The opening event was also attended by Rachel Reeves, the Shadow Chancellor, and Martin Gilbert, Chairman of Revolut. The company did not comment for the newspaper.