Revolut scouts for head of investor relations in possible IPO push
Revolut is recruiting a head of investor relations in another sign that the British fintech company is gearing up for an initial public offering (IPO).
The London-based fintech has posted a job listing that specifically requires experience working with public companies. The company is also looking to hire up to two other investor relations professionals.
Despite signs that a public listing is coming, a Revolut spokesman told UKTN that the flotation “probably” would not take place this year.
“We’ll IPO when the time is right and when we need to,” the spokesperson said.
The chosen candidate will act as a “point of contact with the investment community”, needing “extensive experience leading investor relations at a fast-growth public company”.
Revolut’s success over the years has made it one of the largest private startups in Europe, with a valuation of $33bn.
Currently, UK-based Checkout.com and Swedish buy now pay later firm Klarna top the European valuation list for private startups, although Klarna is thought to be seeking a lower valuation as it looks for fresh funding amid a difficult period for tech.
Despite the ongoing market turbulence that has seen some tech startups lay off staff, Revolut appears to be going relatively strong as it confirmed last week that it is continuing with its hiring plans.
Revolut CEO Nikolay Storonsky said in an interview with Bloomberg last year: “To be able to IPO successfully we need to be at least in the few billion dollars range of revenue a year.” Revolut’s revenue in 2020 stood at £261m.
Previous speculation that Revolut is approaching its IPO launch came after the hiring of Martin Gilbert as chairman. Gilbert is a veteran executive of publicly listed firms, serving as an executive at Standard Life Aberdeen, among others.
Revolut also appointed the former joint chief executive of Goldman Sachs in London, Michael Sherwood.
Storonsky recently announced the launch of a new venture capital fund, Quantum Light, which will use AI tech to find promising startups to back.