How to Buy Revolut Stock Before the IPO

Revolut just hit a $45 billion valuation—making it Europe’s most valuable private fintech and one of the largest private companies globally. The UK neobank finally secured its banking license after a three-year regulatory battle. And you want in before it goes public.

The short answer: most retail investors cannot buy Revolut stock directly. The company is private, UK-based (adding complexity for US investors), and secondary market access requires accredited investor status with $50,000+ minimums. But the IPO clock is ticking.

This guide breaks down who can access Revolut shares, through which platforms, what the UK banking license means for IPO timing—and what publicly traded fintech alternatives exist for everyone else.

Quick Summary

What Is Revolut?

Revolut is a financial technology company that started as a travel money card and evolved into a full-service digital bank. Founded in 2015 by Nikolay Storonsky (a former Credit Suisse trader) and Vlad Yatsenko, the company has grown to serve over 45 million customers across 35+ countries.

Unlike traditional banks with physical branches, Revolut operates entirely through its mobile app—offering banking, investing, cryptocurrency trading, insurance, and international transfers in a single platform.

Core Products:

Multi-Currency Accounts: Revolut’s original product—hold, exchange, and spend money in 30+ currencies at interbank exchange rates. The feature that made it popular with travelers and expats.

Banking Services: Current accounts, direct deposits, bill pay, and (as of 2024) full UK banking services including protected deposits and lending products.

Investing: Commission-free stock trading, cryptocurrency buying/selling, and commodity exposure—all within the app.

Business Accounts: Revolut Business serves over 500,000 companies with expense management, corporate cards, and international payments.

Why Investors Are Interested

Revolut represents the neobank thesis at scale:

• Massive user base: 45+ million customers globally, growing rapidly
• Revenue diversification: Multiple income streams beyond FX fees (subscriptions, interchange, interest income)
• Super app model: Single app for all financial needs increases engagement and switching costs
• UK banking license: Full regulatory approval enables traditional banking products
• Path to profitability: Reported its first full-year profit in 2023

Funding History

Revolut has raised substantial capital from top-tier investors:

The August 2024 secondary sale—where existing investors sold shares to new buyers—valued Revolut at $45 billion, a 36% increase from its 2021 valuation despite the broader fintech correction.

The UK Banking License: Why It Matters

In July 2024, Revolut obtained its UK banking license after a three-year regulatory process. This is a pivotal moment for the company—and for potential investors.

What Changed

Before the License:

• Revolut operated as an “e-money institution” in the UK
• Customer deposits weren’t protected by the UK’s deposit guarantee scheme
• Limited ability to offer credit products and loans
• Regulatory uncertainty hung over IPO plans

After the License:

• Full banking authorization from the Prudential Regulation Authority
• Customer deposits protected up to £85,000 under FSCS
• Can offer mortgages, personal loans, and credit cards
• Major regulatory hurdle for IPO cleared

IPO Implications

The banking license was widely viewed as a prerequisite for Revolut’s IPO. Without it:

• Institutional investors were hesitant about regulatory risk
• The company couldn’t compete fully with traditional banks
• Valuation was constrained by uncertainty

Now that the license is secured, the path to public markets is clearer. Most analysts expect an IPO within 2-3 years.

Can You Buy Revolut Stock?

The direct answer: No, you cannot buy Revolut stock through a regular brokerage account. Revolut is a private company headquartered in the UK, and its shares do not trade on public exchanges.

If you’re an accredited investor: You can potentially purchase Revolut shares through secondary market platforms. Forge Global shows active Revolut trading at approximately $1,315 per share. Minimum investments typically start at $50,000+.

If you’re a retail investor (not accredited): Direct Revolut ownership is not available. Your options are limited to publicly traded fintech alternatives like SoFi (SOFI) or Nubank (NU). Skip to the “Alternatives for Retail Investors” section for specific options.

Geographic Considerations for US Investors:

Revolut is a UK company, which adds complexity:

• Secondary market transactions may involve UK securities regulations
• Currency exposure (GBP/USD) affects your investment value
• Tax treatment may differ from US-based private companies
• Some platforms may have restrictions on non-UK securities

Accredited Investor Requirements

To access Revolut shares through secondary markets, you must qualify as an accredited investor under SEC Rule 501 of Regulation D.

Income Test

You qualify if you earned:

• $200,000+ individual income in each of the past two years, OR
• $300,000+ combined income with your spouse
• Plus a reasonable expectation of reaching the same income level this year

Net Worth Test

You qualify if you have:

• $1,000,000+ in net worth, excluding your primary residence

Professional Credentials

You automatically qualify if you hold:

• Series 7 license (General Securities Representative)
• Series 65 license (Investment Adviser Representative)
• Series 82 license (Private Securities Offerings Representative)

Reality Check: Approximately 13% of U.S. households qualify as accredited investors. If you don’t meet these thresholds, skip ahead to the “Alternatives for Retail Investors” section—publicly traded neobanks offer similar exposure without accreditation requirements.

How to Invest in Revolut (If Accredited)

Accredited investors can access Revolut shares through secondary market platforms that connect buyers with existing shareholders. Here’s how the major platforms work:

Forge Global

Forge Global shows active Revolut trading and provides real-time pricing data.

• Current Pricing: Approximately $1,315 per share
• Minimum Investment: $50,000+ (platform minimums vary)
• How It Works: Forge operates a marketplace for private securities, matching buyers with sellers
• Fees: Transaction-based pricing, typically 2-5%
• Revolut Availability: Active trading with visible pricing

Forge is currently the most transparent platform for Revolut access, showing live pricing and trading activity.

EquityZen

EquityZen creates single-company funds that hold shares of private companies.

• Minimum Investment: $10,000+
• How It Works: Invest in a fund that owns the underlying shares
• Fees: Approximately 5-8% of transaction value
• Revolut Availability: May be available; check platform for current offerings

Hiive

Hiive connects buyers with sellers of pre-IPO company shares.

• Minimum Investment: $10,000+
• How It Works: Browse available offerings, submit interest, platform facilitates transaction
• Fees: Generally 2-5% of transaction value
• Revolut Availability: Check platform for current listings

Important Considerations

Before purchasing Revolut shares on secondary markets:

Currency Exposure: Revolut is a UK company. Your investment value will fluctuate with GBP/USD exchange rates, adding a layer of risk (or opportunity) beyond the company’s performance.

Regulatory Complexity: UK securities may have different transfer restrictions, tax implications, and regulatory requirements than US private companies.

IPO Venue Uncertainty: Revolut may IPO on the London Stock Exchange, NASDAQ, or both. The listing venue affects liquidity and trading access for US investors.

Lock-up Periods: Secondary market purchases often come with restrictions on resale until the company goes public.

Alternatives for Retail Investors

If you don’t qualify as an accredited investor—or prefer liquid, publicly traded investments—here are legitimate ways to get exposure to the neobank/fintech thesis.

1. Publicly Traded Neobanks

SoFi Technologies (SOFI)

SoFi is the closest US equivalent to Revolut—a digital-first financial services company.

• Ticker: SOFI
• Business Model: Student loans, personal loans, investing, banking, credit cards
• Market Cap: ~$15 billion
• Why It’s Relevant: Same “super app” thesis as Revolut; full bank charter holder
• Key Difference: US-focused vs. Revolut’s global footprint

SoFi has a bank charter (like Revolut now does), offers similar products, and trades publicly. If you believe in the neobank model, SoFi provides liquid exposure.

Nu Holdings / Nubank (NU)

Nubank is Latin America’s largest neobank, serving 100+ million customers in Brazil, Mexico, and Colombia.

• Ticker: NU
• Business Model: Digital banking, credit cards, personal loans, investing
• Market Cap: ~$70 billion
• Why It’s Relevant: Proven neobank at massive scale; similar growth trajectory to Revolut
• Key Difference: Emerging market focus vs. Revolut’s developed market presence

Nubank has achieved profitability and scale that Revolut aspires to. It’s the best public market proxy for the global neobank opportunity.

2. Established Fintech Companies

PayPal Holdings (PYPL)

The original fintech giant, now competing with neobanks.

• Ticker: PYPL
• Market Cap: ~$85 billion
• Products: Digital payments, Venmo, buy-now-pay-later, merchant services
• Why Consider It: Established player with global reach and profitability
• Reality Check: Slower growth than neobanks; more mature business

Block (SQ)

Jack Dorsey’s fintech company, formerly Square.

• Ticker: SQ
• Market Cap: ~$50 billion
• Products: Cash App, Square merchant services, Afterpay, Bitcoin
• Why Consider It: Cash App competes directly with neobank products
• Key Strength: Strong presence in both consumer and merchant fintech

3. Fintech ETFs

For diversified fintech exposure without picking individual winners:

ARK Fintech Innovation ETF (ARKF)

• Ticker: ARKF
• Holdings: Block, Coinbase, Shopify, and other fintech innovators
• Expense Ratio: 0.75%
• Revolut Exposure: None directly (private companies excluded)
• Best For: Believers in fintech disruption broadly

Global X FinTech ETF (FINX)

• Ticker: FINX
• Holdings: Diversified global fintech companies
• Expense Ratio: 0.68%
• Revolut Exposure: None directly
• Best For: Passive fintech sector exposure

Comparison Table

Best Alternative: Nubank (NU) is the closest public market proxy to Revolut—a pure-play neobank at scale with global ambitions and proven profitability.

Revolut Valuation History

Understanding Revolut’s valuation trajectory helps contextualize what you’d be paying on secondary markets:

Valuation Context

Revolut’s $45 billion valuation makes it:

• Europe’s most valuable private fintech (surpassing Klarna, Checkout.com)
• Among the top 10 most valuable private companies globally
• Valued at approximately 15-20x estimated revenue (aggressive but not extreme for fintech)

The 2024 valuation increase—from $33B to $45B—is notable because it occurred during a period when many fintech valuations declined. This suggests strong investor confidence in Revolut’s fundamentals and IPO prospects.

Comparison to Public Neobanks:

Revolut trades at a premium to public comparables, reflecting its private market status and growth expectations.

Risks of Pre-IPO Investing

Secondary market platforms make Revolut shares accessible—but they don’t make them safe. Here’s what you’re signing up for:

Liquidity Risk: You Can’t Sell When You Want

Unlike public stocks, there’s no guaranteed buyer for your shares:

• You must find a buyer on the same platform (or another secondary market)
• Transaction times can take weeks or months
• You may have to accept significant discounts to exit
• Lock-up periods may restrict sales until IPO

The reality: Treat any Revolut investment as locked capital for 2-5 years.

Valuation Risk: Is $45 Billion Justified?

Revolut’s valuation assumes continued rapid growth and successful execution of its banking strategy. But:

• The company only recently achieved profitability
• Competition from traditional banks and other neobanks is intensifying
• Interest rate changes affect banking profitability
• Public market fintech multiples have compressed significantly since 2021

Historical warning: Klarna, another European fintech, was valued at $46 billion in 2021. By 2022, its valuation had dropped to $6.7 billion—an 85% haircut. Fintech valuations can collapse quickly.

Currency Risk: GBP/USD Exposure

As a UK company, Revolut’s value to US investors fluctuates with exchange rates:

• If GBP weakens against USD, your investment loses value (in dollar terms) even if Revolut’s business performs well
• Currency hedging is typically not available for secondary market investments
• IPO proceeds may be in GBP depending on listing venue

Regulatory Risk: Multiple Jurisdictions

Revolut operates across 35+ countries, each with different regulatory requirements:

• UK banking license is new—ongoing compliance is required
• European expansion faces varying regulatory hurdles
• US operations require separate licensing
• Cryptocurrency services face evolving global regulations

Competition Risk: Everyone Wants to Be a Super App

Revolut’s “super app” strategy faces competition from:

• Traditional banks launching digital offerings (Chase, Barclays, HSBC)
• Other neobanks (Monzo, N26, Chime)
• Big tech (Apple Pay, Google Pay expanding into banking)
• Established fintech (PayPal, Block adding banking features)

The neobank space is crowded, and differentiation is increasingly difficult.

When Will Revolut Go Public?

The honest answer: No official timeline exists, but the pieces are falling into place.

What We Know

Revolut has not announced specific IPO plans, but several factors suggest it’s approaching:

UK Banking License (July 2024): The three-year regulatory process is complete. This was widely viewed as a prerequisite for IPO.

Secondary Sale (August 2024): The $45 billion valuation event provided liquidity to employees and early investors—often a pre-IPO signal.

Profitability: Revolut reported its first full-year profit in 2023, addressing a key investor concern.

Market Conditions: Fintech IPO markets have been challenging, but conditions are improving.

Likely Timeline

Most analysts expect a Revolut IPO between 2025-2027:

• 2025: Possible if market conditions are favorable and the company wants to move quickly
• 2026: More likely timeline allowing for full banking operations to mature
• 2027: Conservative estimate if markets remain challenging

Listing Venue Uncertainty

Where Revolut lists matters for US investors:

London Stock Exchange: Most likely primary listing given UK headquarters and banking license. US investors can access LSE stocks through international brokers.

NASDAQ/NYSE: Possible secondary or dual listing to access US investor base. Would provide easier access for American investors.

Direct Listing vs. Traditional IPO: Revolut may choose a direct listing (like Wise) rather than a traditional IPO, affecting pricing and allocation.

Comparisons

Revolut’s timeline is consistent with comparable fintechs. The banking license and recent secondary sale suggest IPO preparations are underway.

The Bottom Line

Can you buy Revolut stock? Most retail investors cannot. Revolut is a private UK company, and direct access requires accredited investor status plus $50,000+ minimums on secondary market platforms.

If you’re an accredited investor: Platforms like Forge Global show active Revolut trading at approximately $1,315 per share. Understand the currency risk (GBP/USD exposure), valuation risk ($45B is aggressive), and geographic complexity of investing in a UK company. The recent banking license and secondary sale suggest an IPO is approaching—but timing remains uncertain.

If you’re a retail investor: Your best alternatives are publicly traded neobanks. Nubank (NU) offers the closest comparison—a profitable neobank at scale with similar growth ambitions. SoFi (SOFI) provides US-focused neobank exposure. Both trade on US exchanges with full liquidity.

For everyone: Revolut’s $45 billion valuation assumes continued execution in an increasingly competitive market. The UK banking license is a major milestone, but the company must now prove it can compete with traditional banks on their home turf. Consider whether paying a premium for private shares makes sense when public alternatives like Nubank trade at lower multiples with immediate liquidity.

Frequently Asked Questions

Can you buy Revolut stock?

No, you cannot buy Revolut stock through a regular brokerage account. Revolut is a private UK company. Accredited investors can access shares through secondary market platforms like Forge Global with minimum investments of $50,000+. Retail investors are limited to publicly traded fintech alternatives like SoFi or Nubank.

Is Revolut publicly traded?

No, Revolut is not publicly traded. The company remains private with a $45 billion valuation as of August 2024. Revolut obtained its UK banking license in July 2024, removing a major regulatory hurdle for an eventual IPO. Most analysts expect Revolut to go public between 2025-2027.

How much is Revolut worth?

Revolut was valued at $45 billion in an August 2024 secondary share sale, making it Europe’s most valuable private fintech company. This represents a 36% increase from its $33 billion valuation in 2021. The valuation reflects the company’s 45+ million customers and recently obtained UK banking license.

When will Revolut go public?

There is no announced IPO date for Revolut. The company obtained its UK banking license in July 2024, which was widely viewed as a prerequisite for going public. Most analysts expect an IPO between 2025-2027, likely on the London Stock Exchange with a possible secondary US listing.

How can retail investors get fintech exposure?

Retail investors cannot buy Revolut stock directly but can invest in publicly traded alternatives: Nubank (NU) is Latin America’s largest neobank with 100+ million customers; SoFi (SOFI) is a US digital banking platform; PayPal (PYPL) and Block (SQ) offer broader fintech exposure. Fintech ETFs like ARKF and FINX provide diversified sector exposure.

What is the minimum investment for Revolut on secondary markets?

Secondary market platforms typically require $50,000+ minimum investments for Revolut shares. Forge Global shows Revolut trading at approximately $1,315 per share. All platforms require accredited investor status, and transactions involve additional complexity due to Revolut’s UK domicile.

Sources

• CNBC: “Revolut valuation soars to $45 billion in employee share sale” (August 2024)
• Reuters: “Revolut gets UK banking licence after three-year wait” (July 2024)
• TechCrunch: Revolut funding and valuation coverage
• SEC: Accredited Investor Definition, Rule 501 of Regulation D
• Forge Global: Revolut secondary market pricing and availability
• EquityZen: Secondary market platform documentation
• Hiive: Pre-IPO marketplace documentation
• CNBC: “Klarna valuation plunges 85% to $6.7 billion” (July 2022)
• Yahoo Finance: Public company data for SOFI, NU, PYPL, SQ, ARKF, FINX