London’s Fintech FOMO: Treasury Woos Revolut and Monzo for IPOs

As Britain’s IPO drought drags on, the Treasury is trying to charm Revolut,Monzo, and other fintech darlings into listing in London instead of flying thefintech coop. The Courtship of Fintech Royalty The UK government is rolling out the red carpet—again—for fintech thecrown jewels of fintech. Treasuryofficials have reportedly held talks with Revolut and Monzo, ClearScore andOakNorth in an increasingly desperate effort to keep them in London. The goal?Convince these unicorns to resist the siren song of New York’s glitz andglamour and go public in the humble halls of the London Stock Exchange instead.While other firms are clearly of interest, it’s Revolut and Monzo, now the UK’sseventh largest bank , that are the prize. The Ghost of IPOs Past This flurry of schmoozing comes as the UK grapples with a prolonged IPOdry spell. London hasn’t seen a blockbuster tech listing in years, and losingchip designer ARM to Nasdaq last year still stings like a Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term hangover.That listing flop underscored a hard truth: for ambitious tech companies,London currently lacks the sparkle (and the liquidity) of its U.S. rival. Revolut, valuedat around $45 billion last year , and Monzo, which recently hit a cool £4-4.5billion valuation after a fresh funding round , would be major wins for theLSE. Their public listings could serve as a much-needed vote of confidence inLondon’s tech sector—and a PR lifeline for a market battling perceptions ofstagnation. So, What’s the Pitch? According to reports, Treasury officials are trying to assure thesecompanies that the government is committed to making the UK the best place togrow and list a company. "We are determined to make Britain the best placein the world to start up Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term , scale up and list. That's why we are cutting redtape, ensuring businesses can access the capital they need to grow andsupporting the country's most exciting companies to thrive through ourindustrial strategy,” said a Treasury spokesperson. An incredible day at the #IPO Forum! Some inspiring company leaders shared how they navigated the IPO process and their key lessons as a public company: @BrooksMacdonald , @PennonGroup , @Raspberry_Pi and @TritaxBigBox #CapitalMarkets pic.twitter.com/74RgE2w0Ij Translation: we’ll bend overbackwards if you promise not to ghost us. Chancellor Jeremy Hunt has been vocal about this ambition, hinting atreforms tomake UK capital markets more competitive . Think streamlined regulations,incentives for tech IPOs, and maybe even a PR makeover for the stodgy old LSE.But so far, the government’s charm offensive hasn’t sealed the deal. In any case, neither company appears to have said anything concrete. Atthis point, it’s like watching a peacock shaking his tail feathers and making alot of noise while his prospective mate picks through the corn. Will London Win Out? This is not just about patriotism or PR. For Revolut and Monzo, wherethey list is a strategic decision that affects valuation, investor appetite,and long-term growth. The U.S. markets—despite their volatility—offer deeperpockets and a more tech-savvy investor base. Why did a Bay Area-founded Fintech - backed by celebrated US VCs - choose to IPO in London? @jonprideaux , Director & Former CEO of @BokuPayments , calls London “probably the world’s best place for small / midcap IPOs”. https://t.co/KzgClztlAM #FinTech #AIM30 #IPO pic.twitter.com/aLCpOoAtXl Still, there’s a chance. With global regulators cracking down on U.S.tech giants and geopolitical winds shifting, some firms might see value in listingin The City. But unless the UK accelerates its reforms—and proves it can offermore than just polite meetings and tea—the Treasury’s fintech courtship mightend up being just another story of unrequited love. For more stories of fintechand unicorns , visit our dedicated pages. As Britain’s IPO drought drags on, the Treasury is trying to charm Revolut,Monzo, and other fintech darlings into listing in London instead of flying thefintech coop. The Courtship of Fintech Royalty The UK government is rolling out the red carpet—again—for fintech thecrown jewels of fintech. Treasuryofficials have reportedly held talks with Revolut and Monzo, ClearScore andOakNorth in an increasingly desperate effort to keep them in London. The goal?Convince these unicorns to resist the siren song of New York’s glitz andglamour and go public in the humble halls of the London Stock Exchange instead.While other firms are clearly of interest, it’s Revolut and Monzo, now the UK’sseventh largest bank , that are the prize. The Ghost of IPOs Past This flurry of schmoozing comes as the UK grapples with a prolonged IPOdry spell. London hasn’t seen a blockbuster tech listing in years, and losingchip designer ARM to Nasdaq last year still stings like a Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term hangover.That listing flop underscored a hard truth: for ambitious tech companies,London currently lacks the sparkle (and the liquidity) of its U.S. rival. Revolut, valuedat around $45 billion last year , and Monzo, which recently hit a cool £4-4.5billion valuation after a fresh funding round , would be major wins for theLSE. Their public listings could serve as a much-needed vote of confidence inLondon’s tech sector—and a PR lifeline for a market battling perceptions ofstagnation. So, What’s the Pitch? According to reports, Treasury officials are trying to assure thesecompanies that the government is committed to making the UK the best place togrow and list a company. "We are determined to make Britain the best placein the world to start up Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term , scale up and list. That's why we are cutting redtape, ensuring businesses can access the capital they need to grow andsupporting the country's most exciting companies to thrive through ourindustrial strategy,” said a Treasury spokesperson. An incredible day at the #IPO Forum! Some inspiring company leaders shared how they navigated the IPO process and their key lessons as a public company: @BrooksMacdonald , @PennonGroup , @Raspberry_Pi and @TritaxBigBox #CapitalMarkets pic.twitter.com/74RgE2w0Ij Translation: we’ll bend overbackwards if you promise not to ghost us. Chancellor Jeremy Hunt has been vocal about this ambition, hinting atreforms tomake UK capital markets more competitive . Think streamlined regulations,incentives for tech IPOs, and maybe even a PR makeover for the stodgy old LSE.But so far, the government’s charm offensive hasn’t sealed the deal. In any case, neither company appears to have said anything concrete. Atthis point, it’s like watching a peacock shaking his tail feathers and making alot of noise while his prospective mate picks through the corn. Will London Win Out? This is not just about patriotism or PR. For Revolut and Monzo, wherethey list is a strategic decision that affects valuation, investor appetite,and long-term growth. The U.S. markets—despite their volatility—offer deeperpockets and a more tech-savvy investor base. Why did a Bay Area-founded Fintech - backed by celebrated US VCs - choose to IPO in London? @jonprideaux , Director & Former CEO of @BokuPayments , calls London “probably the world’s best place for small / midcap IPOs”. https://t.co/KzgClztlAM #FinTech #AIM30 #IPO pic.twitter.com/aLCpOoAtXl Still, there’s a chance. With global regulators cracking down on U.S.tech giants and geopolitical winds shifting, some firms might see value in listingin The City. But unless the UK accelerates its reforms—and proves it can offermore than just polite meetings and tea—the Treasury’s fintech courtship mightend up being just another story of unrequited love. For more stories of fintechand unicorns , visit our dedicated pages.