The Road to an IPO by Revolut’s CFO Victor Stinga

Revolut made a profit before tax of US$2.3bn in 2025, up 57% from its 2024 results of US$1.4bn.

That 38% pre-tax margin, up from 35% a year earlier, is the figure its CFO, Victor Stinga, puts first. 

Since then the London-based fintech has secured a full UK banking licence, won preliminary approval for a US national bank charter and confirmed a secondary share sale at a reported US$115bn valuation in July 2026. 

With more than 80 million retail customers and a CEO who now favours a US primary listing, Victor’s task is to run a finance function fit for public markets while funding global expansion.

The front-line financial attack

Victor is a Revolut insider. Born in Romania, he worked as a consultant and analyst at Capgemini and Amazon before CEO Nik Storonsky recruited him in 2018.

He led finance and strategy, worked on the 2021 fundraising round and became interim CFO in May 2023.

He was later confirmed as Group CFO and is one of the company's partners.

His strategy rests on diversification. Eleven product lines each generated more than £100m (US$133m) in 2025.

Subscriptions rose 67% to US$936m, card payments 45% to US$1.3bn and wealth 31% to US$876m, while interest income grew a slower 23% to US$1.3bn, reducing reliance on rates.

“Our 38% profit before tax margin is a result of disciplined financial steering and our ability to scale efficiently while continuing to invest in our people and infrastructure,” said Victor Stinga, Chief Financial Officer at Revolut. 

The balance sheet has grown quickly. Customer balances rose 66% to US$67.5bn, with about 90% held in cash, cash equivalents and treasury investments, and customer lending more than doubled to US$2.9bn. 

The UK licence lets Revolut push further into credit, and the group plans to invest £10bn (US$13.3bn) over five years, including a new London headquarters. 

Capital has come from investors rather than public markets: a share sale at a US$75bn valuation in November 2025, led by Coatue, Greenoaks, Dragoneer and Fidelity, and the 2026 secondary sale.

Key partners:

• NVIDIA: NVIDIA worked with Revolut on PRAGMA, a transformer-based model of customer financial behaviour pre-trained on about 26 million user records on H100 GPUs. NVIDIA's NVentures also took part in Revolut's US$75bn share sale.
• Nebius: PRAGMA was trained on H100 GPU clusters hosted on Nebius AI Cloud, with the smallest variant converging in about two days on 16 GPUs.
• OpenAI: In July 2026 Revolut began bundling ChatGPT Go into its paid plans, with up to 12 months free for Ultra and Metal customers and shorter promotional periods for other tiers.
• Polygon: Revolut uses Polygon as blockchain rails for stablecoin transfers, trading and staking, passing US$1.2bn in cumulative onchain volume by March 2026.
• Visa: Revolut Business offers Instant Card Transfers on Visa Direct, letting clients pay recipients in more than 78 countries using only a card number, with funds arriving within 30 minutes.

Read, watch and listen

Finance Chief is the home of finance news for the CFOs, finance leaders and companies shaping the future of finance, from AI and digital transformation to capital markets, funding and sustainability.

Latest Edition | Webinars | Podcasts | Company Reports

The CXO Summit, BizClik's LIVE event for the C-suite, brings CFOs, CEOs and senior finance leaders together in London to talk AI, growth and leadership, alongside AI LIVE and the wider BizClik LIVE events. Speak | Sponsor | Attend