Revolut, Stripe or Ripple? Which fintechs will go public in 2026 and compete for investors' wallets?
The fintech sector has already completed the revolution and will continue its maturation in 2026. Investors stopped paying for visions and started demanding hard profits, which puts pressure on further professionalization of the sector. The coming months may also bring us stock exchange debuts of giants and smaller companies from the financial technology industry. What does the future hold for fintechs?
The year 2025 was a kind of maturity exam for fintechs. After years of silence, when high interest rates and concerns about the level of inflation robbed investors of their appetite for risk, the debuts of companies from the industry returned to the stock exchange and capital began to flow to them again in a wide stream. However, this did not mean a return to the golden era of fintech from the beginning of the decade. Despite initially well-received IPOs of players such as Klarna, Chime and Circle, the public market turned out to be much less patient and more demanding than venture capitalists from a few years ago.
Why Klarna has lost 55% since its debut, i.e. the end of the reduced tariff
Shares of most fintechs that debuted last year are currently trading below their issue price. Klarna, which listed on the NYSE in September 2025 at a valuation of $15.1 billion, representing a third of the value of its 2021 private financing rounds, has lost 55% since listing. Investors' attention did not escape the fact that despite record revenues of USD 903 million in the third quarter, the company recorded a net loss of USD 95 million.
Chime performed slightly better at that time, its shares having been reduced by 40% since its debut. In this case, the reasons for the decline can be found in the dependence on interchange fees, which generate as much as 72% of the revenues of the leader of American neobanking. This makes it extremely susceptible to regulatory risk. Circle, the issuer of the USDC stablecoin, is currently 8% below the issue price. However, its shares have fallen by 78% since the peak. The company's business model relies heavily on revenues from its stablecoin reserves (cash and treasury bills). Therefore, Fed rate cuts do not help it.
– The examples of last year's newcomers from the fintech sector show that the time of burning through cash just to increase volumes and the customer base is irretrievably over. Investors are no longer looking for promises, but for profitability and a clear business scaling strategy. Falling share prices of giants such as Klarna and Chime after their IPO are not a sign of weakness in the sector, but a correction of investor expectations – indicates Marek Górniak, Network Development Manager at Freedom24. – Subjective valuations from the private market no longer count. Fintechs began to be assessed according to the same criteria as banks and payment companies. This is good news for conscious investors, in 2026 we are buying foundations, not promises – adds Marek Górniak.
The most anticipated stock exchange debuts of fintechs in 2026
- Stripe
- Revolut
- Ripple
- Kraken
- Consensys
- Plaid
Stripe – with a valuation reaching almost USD 107 billion, the debut of the most valuable private technology startup in the US could go down as one of the largest IPOs in history. The company has not yet announced a date for going public, and its management appears to be still postponing that decision. However, Reuters reported last year that Stripe had already taken the first steps towards its debut.
Revolut – after achieving a valuation of USD 75 billion and generating USD 1 billion in net profit in 2024, the London fintech is indicated as an obvious candidate to enter the stock exchange. However, before this happens, the key issue for the company is obtaining a banking license in Great Britain, which would be the final proof of institutional trust in Revolut.
Ripple – with a valuation of up to $50 billion, decreasing regulatory risk and its blockchain solutions for cross-border payments, the company would be a dream candidate to go public. However, in January 2026, Ripple ruled out an IPO, emphasizing that its strong balance sheet gives it the opportunity to remain a private company. Investors must therefore be patient.
Kraken – the second representative of the cryptocurrency industry on our list is confidently heading to the stock exchange. The documents were filed with the SEC in November. The company's IPO may take place in the first half of 2026. The valuation of one of the oldest and most trusted cryptocurrency exchanges is $20 billion.
Consensys – according to industry reports, the cryptocurrency infrastructure giant is to cooperate with JPMorgan and Goldman Sachs, planning a stock exchange debut for the first half of 2026. The company behind the popular Ethereum wallet – MetaMask – is valued at $7 billion and represents the blockchain software market.
Plaid – the company providing a bridge between bank accounts and thousands of fintech applications and services has been talking about its IPO since April last year, when its valuation reached $6 billion. The management board then announced that the USD 575 million raised was the last private round of financing. However, when the initial public offering will take place remains unknown.
Macroeconomics still key
For the valuations of growth companies, which include most fintechs, the macroeconomic environment will remain a key issue this year. During the first FOMC meeting in 2026, US interest rates were maintained in the range of 3.50%-3.75%. However, the market is most likely pricing in the first cut by 25 bp already in June, and the next one in September.
Stabilization and, in the longer term, lowering the cost of capital is the fuel for the valuations of technology companies. However, this does not mean there is no risk. US trade policy, geopolitical tensions and regulatory changes may still influence investor sentiment. Despite this, voices of moderate optimism are increasingly heard.
– In 2026, we will most likely continue to observe the fintech industry maturing. We have already left the wild west of financial technologies and are at the stage of building lasting, institutional foundations. The fact that fintechs obtain banking licenses, strengthen compliance departments and integrate with the traditional financial system reduces regulatory risk and strengthens trust in the industry – indicates Marek Górniak – For investors, this means access to assets that combine the dynamics of the tech sector with the solidity of traditional finance. 2026 will be a time of selection – those who will win will be those who focus on the quality of business models and sustainability of revenues, not on market noise – summarizes Freedom24's Network Development Manager.
Remember that when investing, your capital is always at risk. Before making any investment, you must conduct your own analysis and, if necessary, seek advice from an independent certified investment advisor.
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