Revolut founder Nik Storonsky has reiterated his hopes of a blockbuster IPO in 2028 and revealed plans to slow hiring at the FinTech thanks to AI.
The chief executive and billionaire founder of the digital banking giant told the Cheeky Pint podcast: “I hope it’s 2028, in two years time – subject to the market being good.”
His company recently secured a whopping £85 billion valuation in a fundraising round and is exploring a dual US-UK listing, although he said recently that he “prefers” the US market.
He also outlined how the London firm is using AI to host John Collison – and said he is aiming to reduce hiring as a result.
Storonsky said: “Now it’s almost in every single area of the company. Obviously engineering as well, marketing. Now we’re even trying to create an AI employee, end-to-end.
On hiring, Storonsky said: “Hopefully when automation is done, we can start hiring less people. Because at the moment, I don’t think we’re at the stage when automation is done.”
He added: “Technically, one person can accomplish much more now. You can even have one developer covering frontend, backend, and possibly data science as well… a team can be two people, probably.”
Storonsky said he had spent the last 10 years optimising the company around people, building systems of KPIs, roadmap, processes, hiring and performance management.
He said: “Now it might be all redundant, right, because of AI in 2-3 years’ time.”
Storonsky also described an automated cross-sell system, in which a machine learning model decides which product suits a customer at a given moment.
He said an LLM then “effectively behaves as an account manager” and decides which product to push to the customer.
Revolut is cutting 210-day compliance approval cycles with AI, according to Storonsky.
The firm already sells AI-driven tools to business customers. Its AI claims to automatically match a receipt to the transaction with up to 98% accuracy.
Revolut says most receipts are collected in less than a day, with employees snapping a picture of a receipt or forwarding an email.
Revolut also says customers can set rules to automatically freeze cards when expenses are not submitted on time.