Nik Storonsky, CEO and co-founder of digital bank Revolut, was in France this week after receiving approval for a French banking license. Speaking with Les Echos, the country’s leading financial publication, Storonsky said Revolut may dual-list its shares on Nasdaq and the London Stock Exchange when it finally goes public.
Revolut has been viewed as a top Fintech initial public offering for some time now. In the past, Storonsky has said he intends to float shares because of market structure and higher liquidity. By dual-listing on the LSE, Revolut can burnish its UK roots while supporting a market that is seeking to encourage more public listings.
Revolut is planning to open an office in Paris, and bank approval will help it provide more services to the market. While being subjected to greater regulatory oversight, operating as bank can drive confidence alongside more products.
In total, Revolut has around 80 million customers, with 30 million located in Europe.
Profit in 2015 was reported at $1.7 billion, and the bank’s valuation hovers around $115 billion.
In the discussion with Les Echos, Storonsky called Revolut the “bank of the future” and an operation that has proved all skeptics wrong.
More recently, Revolut received conditional approval to become a federally chartered bank in the United States.
Revolut is also one of the most successful firms to raise funding through online capital formation from retail investors in securities rounds listed on a crowdfunding platform.