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 | $1.0-1.5 billion | 2027-2028 |
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Airtable | No-code app development platform | Private | $4.0-6.0 billion | Late 2026-2027 |
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Altos Labs | Cellular rejuvenation biotech | Private | up to $8 billion | Rumoured |
 |
Anthropic | AI safety and research | Confidentially Filed | $965 billion | Fall 2026 |
 |
Autodoc | German online marketplace for car parts and accessories | Private | €2.4 billion ($2.8 billion) | Postponed June 2025; future IPO timing not announced |
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BestSecret | Exclusive online fashion retailer | Private | $4.3-4.5 billion | Rumoured |
 |
Bitpanda | Austrian crypto brokerage and digital asset investment platform | Private | $4.7-5.8 billion | H2 2026-2027 |
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Bolt | Estonian ride-hailing, micromobility and delivery platform | Private | $7.0-9.0 billion | Late 2026-2027 |
 |
Canva | Design platform for creating visual content | Private | $60-70 billion | 2027 |
 |
Celonis | German process mining software for optimizing enterprise workflows | Private | $13-16 billion | Late 2026-2027 |
 |
Dataminr | Real-time data and AI insights | Private | $1.0-2.0 billion | 2027-2028 |
 |
Deel | Global HR platform for remote workforce management | Private | $17-22 billion | Late 2026-2027 |
 |
DeepL | German AI translation and writing assistant company | Private | $4-5 billion | Late 2026-2027 |
 |
DePuy Synthes | Johnson & Johnson orthopaedics business spanning joint reconstruction, trauma, spine and sports medicine. | Private | $20-28 billion | 2027 |
 |
Discord | Voice, video and text communication | Confidentially Filed | $8-12 billion | Late 2026-2027 |
 |
Doctolib | European telemedicine and medical-practice software provider | Private | $4.0-6.0 billion | 2027-2028 |
 |
DriveWealth | Brokerage-as-a-Service financial technology platform | Private | $1.5-3.0 billion | 2027-2028 |
 |
Ebury | Global payments and business financing | Private | £1.4-2.0 billion ($1.9-2.7 billion) | 2027-2028 |
 |
EG Group | Petrol forecourt operator with retail services | Private | $8-10 billion | H2 2026-2027 |
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Epic Games | Video game developer and publisher | Private | $15-25 billion | 2028-2030 |
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Hugging Face | AI and machine learning platform | Private | $5-8 billion | 2028-2030 |
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Inspire Brands | Multi-brand restaurant group owning Dunkin’, Arby’s, Sonic, Jimmy John’s and others. | Confidentially Filed | $20 billion | H2 2026 |
 |
IVC Evidensia | UK-based veterinary clinic and pet care hospital group | Private | €12-15 billion ($14-17 billion) | 2027 |
 |
Jersey Mike's Subs | Fresh-sliced and grilled submarine sandwich chain. | Confidentially Filed | $12 billion+ | H2 2026 |
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Kraft Heinz Split (Global Taste Elevation Co. / North American Grocery Co.) | Split into Global Taste Elevation Co. and North American Grocery Co. | Private | $25-32 billion aggregate | Paused; earliest 2027+ |
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Kraken | Cryptocurrency exchange and trading platform | Confidentially Filed | $13-20 billion | H2 2026-2027 |
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Kraken Technologies (Spin-Off) | UK energy software platform spun out of Octopus Energy | Private | $9-14 billion | Late 2026-2027 |
 |
Lime | Shared electric bike and scooter rental platform operating across global cities. | Publicly Filed | $1.5-2.0 billion | H2 2026 |
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Liquid Death | Canned mountain water brand | Private | $1.0-1.5 billion | 2027-2028 |
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Lummus Technology | Process-technology licensing for petrochemicals, refining, sustainable fuels | Confidentially Filed | $5-6 billion | H2 2026-2027 |
 |
Monzo | UK digital bank and consumer fintech app | Private | £7-10 billion ($9-13 billion) | Late 2026-2027 |
 |
Motel One | German budget design hotel chain | Private | €3.5-4.5 billion ($3.8-4.9 billion) | 2028-2030 |
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OpenAI | AI research and development | Confidentially Filed | $750 billion-$1.0 trillion | Late 2026-2027 |
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Oura | Smart ring maker for sleep, fitness, stress, readiness and preventive health tracking. | Confidentially Filed | $11-15 billion | H2 2026 |
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Panera Brands | Fast-casual bakery-café group including Panera Bread, Caribou Coffee and Einstein Bros. Bagels. | Confidentially Filed | $7-9 billion | 2027-2028 |
 |
Rappi | Latin American on-demand delivery platform | Private | $3.0-5.5 billion | Late 2026-2027 |
 |
Revolut | UK neobank and super-app for payments, trading and banking services | Private | $150-200 billion | 2028-2029 |
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Ripple Labs | Blockchain-based payment solutions provider for financial institutions | Private | $40 billion+ | No IPO expected before 2028 |
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Roze AI | SoftBank AI robotics spin-out to automate data-center and infrastructure construction. | Private | $100 billion targeted | H2 2026 |
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SB Energy | SoftBank-backed power and data-center infrastructure developer for AI workloads. | Private | $50 billion+ | H2 2026 |
 |
Shein | Global fast-fashion online retailer | Confidentially Filed (H.K.) | $30-50 billion | H2 2026-2027 |
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Skims | Shapewear and loungewear fashion brand | Private | $5-7 billion | 2027-2028 |
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Snyk | UK/US cybersecurity platform for developer security (DevSecOps) | Confidentially Filed | $4.5-7.5 billion | 2027-2028 |
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Starling Bank | UK digital bank focused on current accounts and SME lending | Private | £3.5-4.5 billion ($4.7-6.1 billion) | 2028-2029 |
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Strava | Fitness tracking and social network app for runners, cyclists and active athletes. | Confidentially Filed | $2.2-3.0 billion | H2 2026 |
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Stripe | Online payment processing platform | Private | $160-200 billion | 2027-2028 |
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SumUp | UK payments fintech providing card readers and POS tools for small businesses | Private | $10-15 billion | H2 2026-2027 |
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Tenneco | Apollo-backed auto supplier making clean air, powertrain, ride performance and aftermarket systems. | Private | $12-14 billion | H2 2026-2027 |
 |
Verkor | French low-carbon EV battery cell manufacturer | Private | $3-6 billion | 2028-2030 |
 |
Visma Group | Norwegian software group for accounting, payroll and ERP services | Private | €17-21 billion ($20-24 billion) | 2027-2028 |
1KOMMA5°
Est. Valuation: $1.0-1.5 billion
German home energy platform bundling solar, heat pumps and EV charging for households.
Airtable
Est. Valuation: $4.0-6.0 billion
No-code app development platform.
Altos Labs
Est. Valuation: up to $8 billion
Cellular rejuvenation biotech.
Anthropic
Est. Valuation: $965 billion
AI safety and research.
Autodoc
Est. Valuation: €2.4 billion ($2.8 billion)
German online marketplace for car parts and accessories.
BestSecret
Est. Valuation: $4.3-4.5 billion
Exclusive online fashion retailer.
Bitpanda
Est. Valuation: $4.7-5.8 billion
Austrian crypto brokerage and digital asset investment platform.
Bolt
Est. Valuation: $7.0-9.0 billion
Estonian ride-hailing, micromobility and delivery platform.
Canva
Est. Valuation: $60-70 billion
Design platform for creating visual content.
Celonis
Est. Valuation: $13-16 billion
German process mining software for optimizing enterprise workflows.
Dataminr
Est. Valuation: $1.0-2.0 billion
Real-time data and AI insights.
Deel
Est. Valuation: $17-22 billion
Global HR platform for remote workforce management.
DeepL
Est. Valuation: $4-5 billion
German AI translation and writing assistant company.
DePuy Synthes
Est. Valuation: $20-28 billion
Johnson & Johnson orthopaedics business spanning joint reconstruction, trauma, spine and sports medicine.
Discord
Est. Valuation: $8-12 billion
Voice, video and text communication.
Doctolib
Est. Valuation: $4.0-6.0 billion
European telemedicine and medical-practice software provider.
DriveWealth
Est. Valuation: $1.5-3.0 billion
Brokerage-as-a-Service financial technology platform.
Ebury
Est. Valuation: £1.4-2.0 billion ($1.9-2.7 billion)
Global payments and business financing.
EG Group
Est. Valuation: $8-10 billion
Petrol forecourt operator with retail services.
Epic Games
Est. Valuation: $15-25 billion
Video game developer and publisher.
Hugging Face
Est. Valuation: $5-8 billion
AI and machine learning platform.
Inspire Brands
Est. Valuation: $20 billion
Multi-brand restaurant group owning Dunkin’, Arby’s, Sonic, Jimmy John’s and others.
IVC Evidensia
Est. Valuation: €12-15 billion ($14-17 billion)
UK-based veterinary clinic and pet care hospital group.
Jersey Mike's Subs
Est. Valuation: $12 billion+
Fresh-sliced and grilled submarine sandwich chain.
Kraft Heinz Split (Global Taste Elevation Co. / North American Grocery Co.)
Est. Valuation: $25-32 billion aggregate
Split into Global Taste Elevation Co. and North American Grocery Co.
Kraken
Est. Valuation: $13-20 billion
Cryptocurrency exchange and trading platform.
Kraken Technologies (Spin-Off)
Est. Valuation: $9-14 billion
UK energy software platform spun out of Octopus Energy.
Lime
Est. Valuation: $1.5-2.0 billion
Shared electric bike and scooter rental platform operating across global cities.
Liquid Death
Est. Valuation: $1.0-1.5 billion
Canned mountain water brand.
Lummus Technology
Est. Valuation: $5-6 billion
Process-technology licensing for petrochemicals, refining, sustainable fuels.
Monzo
Est. Valuation: £7-10 billion ($9-13 billion)
UK digital bank and consumer fintech app.
Motel One
Est. Valuation: €3.5-4.5 billion ($3.8-4.9 billion)
German budget design hotel chain.
OpenAI
Est. Valuation: $750 billion-$1.0 trillion
AI research and development.
Oura
Est. Valuation: $11-15 billion
Smart ring maker for sleep, fitness, stress, readiness and preventive health tracking.
Panera Brands
Est. Valuation: $7-9 billion
Fast-casual bakery-café group including Panera Bread, Caribou Coffee and Einstein Bros. Bagels.
Rappi
Est. Valuation: $3.0-5.5 billion
Latin American on-demand delivery platform.
Revolut
Est. Valuation: $150-200 billion
UK neobank and super-app for payments, trading and banking services.
Ripple Labs
Est. Valuation: $40 billion+
Blockchain-based payment solutions provider for financial institutions.
Roze AI
Est. Valuation: $100 billion targeted
SoftBank AI robotics spin-out to automate data-center and infrastructure construction.
SB Energy
Est. Valuation: $50 billion+
SoftBank-backed power and data-center infrastructure developer for AI workloads.
Shein
Est. Valuation: $30-50 billion
Global fast-fashion online retailer.
Skims
Est. Valuation: $5-7 billion
Shapewear and loungewear fashion brand.
Snyk
Est. Valuation: $4.5-7.5 billion
UK/US cybersecurity platform for developer security (DevSecOps).
Starling Bank
Est. Valuation: £3.5-4.5 billion ($4.7-6.1 billion)
UK digital bank focused on current accounts and SME lending.
Strava
Est. Valuation: $2.2-3.0 billion
Fitness tracking and social network app for runners, cyclists and active athletes.
Stripe
Est. Valuation: $160-200 billion
Online payment processing platform.
SumUp
Est. Valuation: $10-15 billion
UK payments fintech providing card readers and POS tools for small businesses.
Tenneco
Est. Valuation: $12-14 billion
Apollo-backed auto supplier making clean air, powertrain, ride performance and aftermarket systems.
Verkor
Est. Valuation: $3-6 billion
French low-carbon EV battery cell manufacturer.
Visma Group
Est. Valuation: €17-21 billion ($20-24 billion)
Norwegian software group for accounting, payroll and ERP services.
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, which was compiled using publicly available information, and you should verify the information independently before making any financial or investment decisions. Use this information at your own risk. Last Update: June 2026