Revolut CEO, Nikolay Storonsky, said in an interview with Bloomberg Television that the company might going public only after its revenue hits the few billion dollars mark. While Storonsky did not set a timeline for the IPO, he said the figures needed to achieved in annual sales.
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"To be able to IPO successfully we need to be at least in the few billion dollars range of revenue a year," he said.
He added that many companies these days entering into a business model where "they sell a lot of products rather than a single-line product." Storonsky's statements come after Revolut raised $800 million in the latest funding round, bringing its valuation at $33 billion. As a result, the company has become the most valuable fintech startup in the UK.
The list of investors participating in the company's latest funding round included SoftBank's Vision Fund 2 and Tiger Global. Revolut plans to use the investments for marketing, new product development and international expansion.
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