Nik Storonsky, cofounder and CEO of Revolut, is in discussions over a new equity arrangement that would grant him a substantial stock windfall if the company reaches a valuation of approximately $500bn, according to people familiar with the matter who spoke to the Financial Times.

A Pattern of Performance-Linked Equity

This isn't the first time Storonsky has structured his compensation around ambitious valuation milestones. Earlier reports revealed he had already signed a deal to increase his ownership by "several percentage points" if Revolut hit $150bn. In a Russian-language interview published in December 2024, Storonsky confirmed he held a 29% stake in the company, and disclosed that this would rise by a further 10% if Revolut reached a $200bn valuation.

The new $500bn target, if confirmed, would represent a dramatic step-change — roughly 2.5x the $200bn figure Storonsky was already targeting as a trigger for additional equity.

Where Revolut Actually Stands

The gap between aspiration and current market reality is significant. Revolut's most recent employee secondary share sale, reported last month, pegged the company's valuation at $115bn. That figure makes it one of Europe's most valuable private tech companies, but it's still a long way from either the $200bn IPO target or the $500bn threshold tied to this new deal.

Revolut is currently targeting a $200bn valuation for a potential 2028 IPO — a timeline that gives the company roughly three years to more than double its current implied valuation before going public.

Why This Matters

Performance-linked founder equity arrangements of this kind are increasingly common in high-growth tech — Elon Musk's Tesla compensation package being the most high-profile example — but the scale of what Storonsky appears to be pursuing is notable even by those standards.

Key implications to watch:

  • Founder alignment vs. dilution risk: Granting Storonsky additional equity at these milestones rewards performance but dilutes existing shareholders, including early investors and employee option holders.
  • IPO signalling: Structuring a deal around a $500bn valuation sends a clear message about where leadership believes the company can go — or at least wants the market to believe it can go.
  • European tech benchmark: If Revolut were to approach even the $200bn mark by 2028, it would be transformative for the European startup ecosystem's credibility on the global stage.

The Broader Fintech Context

Revolut has spent the past two years aggressively expanding its product surface — adding stock trading, business accounts, and insurance — positioning itself less as a neobank and more as a full financial superapp. That framing is central to justifying a premium valuation multiple.

Competitors like Stripe (last valued at around $70bn) and Chime are also eyeing public markets, meaning the IPO window in fintech is becoming increasingly competitive. Revolut's ability to command a $200bn+ valuation at IPO will depend heavily on revenue growth, profitability trajectory, and — crucially — investor appetite for high-multiple fintech names in 2028.

Sifted approached Revolut for comment; no response was received at time of publication.