Upcoming IPO Candidates
Our research team constantly monitors private markets. This monitoring serves a dual purpose: screening future candidates that could join the IPOX® Indexes, and informing the solutions we offer for private market proxy exposure. The IPO candidates we identify are private companies that have reached a stage of growth and maturity where they are considered strong contenders to go public, for example, through an initial public offering (IPO) or spin-off. These firms have typically completed multiple funding rounds and showcase consistent growth, market potential, and business stability.
Below is a list of several firms that have expressed interest to go public, or have been subject to media rumors about planning a listing in the near-term, with possible IPO timing.
| Name | Description | IPO Status | Est. Valuation | Expected IPO Date | |
|---|---|---|---|---|---|
 |
1KOMMA5° | German home energy platform bundling solar, heat pumps and EV charging for households | Private | $2.4 billion | 2026 |
 |
Airtable | No-code app development platform | Private | $11.5 billion | Unknown |
 |
Altos Labs | Cellular rejuvenation biotech | Private | $6.5 billion | Unknown |
 |
Anthropic | AI safety and research | Private | $61.5 billion | Unknown |
 |
Armis | Cybersecurity platform managing asset visibility risks | Private | $4 billion | 2025-2026 |
 |
Autodoc | German online marketplace for car parts and accessories | Private | €2.77 billion | 2026 |
 |
BestSecret | Exclusive online fashion retailer | Private | $4.5 billion | Unknown |
 |
Bitpanda | Austrian crypto brokerage and digital asset investment platform | Private | €3.4 billion | 2026 |
 |
Bolt | Estonian ride-hailing, micromobility and delivery platform | Private | €6.3 billion | 2026 |
 |
Canva | Design platform for creating visual content | Private | $26 billion | 2025 |
 |
Celonis | German process mining software for optimizing enterprise workflows | Private | $13 billion | 2026 |
 |
Cerebras Systems | AI-specific hardware for neural networks | Filed S-1 | $8 billion | 2026 |
 |
Dataminr | Real-time data and AI insights | Private | $4 billion | Unknown |
 |
Deel | Global HR platform for remote workforce management | Private | $12.5 billion | 2026 |
 |
DeepL | German AI translation and writing assistant company | Private | $5 billion | 2026 |
 |
Discord | Voice, video and text communication | Private | $15 billion | Unknown |
 |
Doctolib | European telemedicine and medical-practice software provider | Private | €5.8 billion | 2026 |
 |
DriveWealth | Brokerage-as-a-Service financial technology platform | Private | $3 billion | 2026+ |
 |
Ebury | Global payments and business financing | Private | $2.5 billion | Unknown |
 |
EG Group | Petrol forecourt operator with retail services | Private | $14.5 billion | 2026 |
 |
Epic Games | Video game developer and publisher | Private | $32 billion | Unknown |
 |
Hugging Face | AI and machine learning platform | Private | $4.5 billion | Unknown |
 |
ISS Stoxx (Spin-Off) | German index and ESG data business carved out of Deutsche Börse | Private | $1 billion | 2026 |
 |
IVC Evidensia | UK-based veterinary clinic and pet care hospital group | Private | €12.3 billion | 2026 |
 |
Kraft Heinz split | Split into Global Taste Elevation Co. and North American Grocery Co. | Spin-off Announced | — | H2 2026 |
 |
Kraken | Cryptocurrency exchange and trading platform | Private | $11 billion | Q1 2026 |
 |
Kraken (Spin-Off) | UK energy software platform spun out of Octopus Energy | Private | £10 billion | 2026 |
 |
Liquid Death | Canned mountain water brand | Private | $1.5 billion | Unknown |
 |
Lummus Technology | Process-technology licensing for petrochemicals, refining, sustainable fuels | Confidentially Filed | >$5 billion (expected) | TBD |
 |
Medline | Medical supplies manufacturer and distributor | Filed for IPO | ≈$50 billion (expected) | Q4 2025 |
 |
Monzo | UK digital bank and consumer fintech app | Private | $5.9 billion | 2026 |
 |
Motel One | German budget design hotel chain | Private | €3.5 billion | 2026 |
 |
NBCUniversal Cable Networks (SpinCo) | USA Network, CNBC, MSNBC, E!, SYFY, Golf Channel + digital (Fandango, Rotten Tomatoes) | Spin-off Announced | $7B revenue (valuation TBD) | 2025-2026 |
 |
OpenAI | AI research and development | Private | $300 billion | Unknown |
 |
Princes Group | UK branded and private-label food and beverage group | Private | £1.24 billion | 2026 |
 |
Rappi | Latin American on-demand delivery platform | Private | $5.5 billion | 2026 |
 |
Revolut | UK neobank and super-app for payments, trading and banking services | Private | $75 billion | 2026 |
 |
Ripple Labs | Blockchain-based payment solutions provider for financial institutions | Private | ≈$20 billion | 2026 |
 |
Shawbrook | UK specialist lending bank focused on SMEs and real estate finance | Private | £2 billion | 2026 |
 |
Shein | Global fast-fashion online retailer | Private | $50 billion | 2026 |
 |
Skims | Shapewear and loungewear fashion brand | Private | $4 billion | 2025 |
 |
Snyk | UK/US cybersecurity platform for developer security (DevSecOps) | Private | $3.7 billion | 2026 |
 |
SpaceX | Space exploration and launch systems | Private | $350 billion | Unknown |
 |
Starling Bank | UK digital bank focused on current accounts and SME lending | Private | £4 billion | 2026 |
 |
Stripe | Online payment processing platform | Private | $91.5 billion | Unknown |
 |
SumUp | UK payments fintech providing card readers and POS tools for small businesses | Private | $15 billion | 2026 |
 |
Verkor | French low-carbon EV battery cell manufacturer | Private | $5.6 billion | 2026 |
 |
Visma Group | Norwegian software group for accounting, payroll and ERP services | Private | €19 billion | 2026 |
 |
Wealthfront | Digital wealth-management (robo-advisor) | Publicly Filed | >$2 billion | 2025-2026 |
1KOMMA5°
Est. Valuation: $2.4 billion
German home energy platform bundling solar, heat pumps and EV charging for households.
Airtable
Est. Valuation: $11.5 billion
No-code app development platform.
Altos Labs
Est. Valuation: $6.5 billion
Cellular rejuvenation biotech.
Anthropic
Est. Valuation: $61.5 billion
AI safety and research.
Armis
Est. Valuation: $4 billion
Cybersecurity platform managing asset visibility risks.
Autodoc
Est. Valuation: €2.77 billion
German online marketplace for car parts and accessories.
BestSecret
Est. Valuation: $4.5 billion
Exclusive online fashion retailer.
Bitpanda
Est. Valuation: €3.4 billion
Crypto brokerage and digital asset platform.
Bolt
Est. Valuation: €6.3 billion
Ride-hailing, micromobility and delivery.
Canva
Est. Valuation: $26 billion
Design platform for visual content.
Celonis
Est. Valuation: $13 billion
Process mining software for enterprise workflows.
Cerebras Systems
Est. Valuation: $8 billion
AI-specific hardware for neural networks.
Dataminr
Est. Valuation: $4 billion
Real-time data and AI insights.
Deel
Est. Valuation: $12.5 billion
Global HR platform for remote workforce management.
DeepL
Est. Valuation: $5 billion
AI translation and writing assistant.
Discord
Est. Valuation: $15 billion
Voice, video and text communication.
Doctolib
Est. Valuation: €5.8 billion
Telemedicine and medical-practice software.
DriveWealth
Est. Valuation: $3 billion
Brokerage-as-a-Service fintech platform.
Ebury
Est. Valuation: $2.5 billion
Global payments and business financing.
EG Group
Est. Valuation: $14.5 billion
Petrol forecourt operator with retail services.
Epic Games
Est. Valuation: $32 billion
Video game developer and publisher.
Hugging Face
Est. Valuation: $4.5 billion
AI and machine learning platform.
ISS Stoxx (Spin-Off)
Est. Valuation: $1 billion
Index and ESG data business carved out of Deutsche Börse.
IVC Evidensia
Est. Valuation: €12.3 billion
Veterinary clinic and pet care hospital group.
Kraft Heinz split
Est. Valuation: —
Split into Global Taste Elevation Co. and North American Grocery Co.
Kraken
Est. Valuation: $11 billion
Cryptocurrency exchange and trading platform.
Kraken (Spin-Off)
Est. Valuation: £10 billion
UK energy software platform spun out of Octopus Energy.
Liquid Death
Est. Valuation: $1.5 billion
Canned mountain water brand.
Lummus Technology
Est. Valuation: >$5 billion (expected)
Process-technology licensing for petrochemicals, refining, sustainable fuels.
Medline
Est. Valuation: ≈$50 billion (expected)
Medical supplies manufacturer and distributor.
Monzo
Est. Valuation: $5.9 billion
UK digital bank and consumer fintech app.
Motel One
Est. Valuation: €3.5 billion
German budget design hotel chain.
NBCUniversal Cable Networks (SpinCo)
Revenue: $7B (valuation TBD)
USA Network, CNBC, MSNBC, E!, SYFY, Golf Channel + digital (Fandango, Rotten Tomatoes).
OpenAI
Est. Valuation: $300 billion
AI research and development.
Princes Group
Est. Valuation: £1.24 billion
Branded and private-label food and beverage group.
Rappi
Est. Valuation: $5.5 billion
Latin American on-demand delivery platform.
Revolut
Est. Valuation: $75 billion
UK neobank and financial super-app.
Ripple Labs
Est. Valuation: ≈$20 billion
Blockchain-based payment solutions for financial institutions.
Shawbrook
Est. Valuation: £2 billion
UK specialist lending bank focused on SMEs and real estate finance.
Shein
Est. Valuation: $50 billion
Global fast-fashion online retailer.
Skims
Est. Valuation: $4 billion
Shapewear and loungewear brand.
Snyk
Est. Valuation: $3.7 billion
Cybersecurity for developers (DevSecOps).
SpaceX
Est. Valuation: $350 billion
Space exploration and launch systems.
Starling Bank
Est. Valuation: £4 billion
UK digital bank focused on current accounts and SME lending.
Stripe
Est. Valuation: $91.5 billion
Online payment processing platform.
SumUp
Est. Valuation: $15 billion
Card readers and POS tools for small businesses.
Verkor
Est. Valuation: $5.6 billion
French low-carbon EV battery cell manufacturer.
Visma Group
Est. Valuation: €19 billion
Software group for accounting, payroll and ERP services.
Wealthfront
Est. Valuation: >$2 billion
Digital wealth-management (robo-advisor).
The information provided on this page, including company descriptions, valuations, and expected IPO dates, is for informational purposes only and may not be accurate or up-to-date. We do not guarantee the completeness or reliability of this data, and you should verify the information independently before making any financial or investment decisions. Use this information at your own risk.