The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

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

Dec 4, 2024
Nik Storonsky, Co-founder and CEO of Revolut, discusses the tech company's meteoric rise with a $45BN valuation and ambitions for an IPO. He reveals what’s needed for Revolut to hit a staggering $100BN valuation and why no challenger bank has yet conquered the US market. Nik shares the lessons learned from hiring mistakes and the importance of maintaining rapid execution as the company scales. He also addresses the intricacies of brand marketing and regulatory hurdles in U.S. banking and his vision for Revolut's future in Europe.
45:53

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Nik Storonsky emphasizes the importance of KPI-based leadership to ensure alignment and accountability across Revolut's teams for rapid growth.
  • He reflects on the challenges of navigating regulatory frameworks, advocating for acquiring banking licenses before customer base establishment to avoid scrutiny.

Deep dives

The Competitive Landscape of Financial Products

The episode discusses the challenges faced by UK financial products in competing with their US counterparts, highlighting issues of liquidity and cost. It emphasizes that the UK offerings are generally less liquid and carry additional duties, making them more expensive and less rational for customers. The speaker expresses a preference for listing products in the US, indicating a belief in the superiority of the US financial landscape unless a better product emerges from the UK. This perspective reflects a keen observation of market dynamics and prioritization of competitive advantages.

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