20VC: Revolut Founder Nik Storonsky on When and Where Revolut Will IPO & What Revolut Need to Do to Hit $100BN Valuation

Nik Storonsky is the Co-Founder and CEO of Revolut, one of the fastest-growing companies in the world with a $45BN valuation and 50M customers around the world. In July 2024, Revolut posted a whopping $2.2BN in revenue with $545M in pre-tax profit in 2023. To date, Nik has raised $1.8BN for the company from the likes of Index, Balderton, Ribbit, DST and TCV. In Today’s Show with Nik Storonsky We Discuss: 1. When & Where Will Revolut IPO: •

What does Revolut need to do or change before they are ready to go public? • •

When would Nik like for Revolut to go public? • •

When they do go public, where would Nik list? Would it be in London? • •

How does Nik respond to claims that he has moved to Dubai for tax reasons? • 2. What Revolut Needs to Achieve to Hit $100BN: •

Why has no challenger bank won the US market yet? • •

What will Revolut do differently to allow them to win the US market? • •

What market share will Revolut have in Europe in 3 years time? • •

What line of the business that does not exist today, will be the biggest in 5 years time? • 3. How to Build an Execution Machine: •

Why does Nik believe the biggest mistake he made was hiring senior managers? • •

What have been Nik’s biggest lessons on how to hire for roles you have never hired for before? What works? What does not? • •

How does Nik retain insane velocity of execution at scale? • •

How does Nik bucket people into three different buckets? What does each bucket mean for the type of work they do and the expectations placed on them? • 4. How Revolut Tests New Products: •

How does Revolut use a portfolio approach to test new product ideas? • •

How are teams for new ideas structured? What roles do they have? • •

How much time and resources are they given? • •

What is the tracking process to determine the success of new products? • •

What % of new products do succeed and progress to the core app? • •

Which product did Nik think would be massive but turned out to be a flop? • •

What did Nik not expect to be massive and turned out to be mega hit? • 5. The UK and Europe: Are We F******: •

The Chancellor has said we will have no growth in the UK for the next 3 years. How does it feel for Nik to grow Revolut in this environment? • •

If Nik could advise Keir Starmer on how to turn the UK around, what would he say? • •

Why does Nik believe the US has created so many more $100BN companies? • •

Why does Nik believe that work/life imbalance is the secret to success and happiness? •