Digital
banking big Revolut reported a 149% leap in revenue earlier than tax to $1.4 billion
(£1.1 billion) for 2024, marking its fourth consecutive yr of profitability
as the corporate continues its aggressive international enlargement.
The
London-based fintech noticed its buyer base develop by 38% to 52.5 million customers
worldwide, whereas whole buyer balances elevated 66% to $38 billion (£30
billion).
Group
income surged 72% to $4 billion (£3.1 billion) in comparison with $2.2 billion in
2023, with internet revenue reaching $1 billion (£790 million).
Nikolay Storonsky, CEO of Revolut, appears to be aiming for wide-ranging European enlargement (Revolut).
“This
efficiency earned us the standing of Europe’s most useful non-public expertise
firm,” mentioned Nik Storonsky, CEO of Revolut. “We’re making robust
progress in direction of 100 million each day energetic clients throughout 100 international locations.”
You might also like: Will Revolut Goal Its 5 Million-Consumer Market in France With CFDs Subsequent?
Crypto Leads
The
firm’s Wealth division noticed essentially the most important improve, with income
leaping 298% to $647 million (£506 million), largely pushed by elevated crypto
buying and selling and the launch of Revolut’s crypto alternate.
Card
funds income grew 43% year-over-year to $887 million, whereas international
alternate income elevated 58% to $540 million. The corporate’s subscription
enterprise generated $541 million, up 74% from 2023.
Key Monetary
Efficiency Metrics
|
Metric |
2024 |
2023 |
YoY Change |
|
Whole |
$4.0bn |
$2.2bn |
+72% |
|
Revenue |
$1.4bn |
$562m |
+149% |
|
Internet Revenue |
$1.0bn |
$428m |
+133% |
|
Internet Revenue |
26% |
19% |
+7% |
|
Buyer |
$38bn |
$23bn |
+66% |
|
Buyer Lending |
$1.2bn |
$655m |
+86% |
Curiosity
earnings rose 58% to $1 billion as Revolut successfully managed its rising
deposit base and expanded lending actions. The shopper lending portfolio
grew 86% to $1.2 billion, although this stays comparatively small in comparison with
conventional banks.
Notably,
the corporate’s internet revenue margin improved to 26%, up from 19% in 2023,
demonstrating the scalability of Revolut’s enterprise mannequin.
New Merchandise, New Areas
Revolut
continued to reinforce its product choices in 2024, increasing its Financial savings and
Cash Market Fund availability to over 30 international locations, which attracted $12.3
billion in deposits. The corporate additionally launched bonds and European funding
plans whereas securing a UK funding license.
The Revolut
Enterprise section confirmed robust momentum, with month-to-month energetic companies
rising 56% year-over-year. Enterprise clients contributed roughly 15%
of whole group income, positioning Revolut Enterprise as considered one of Europe’s largest
digital banking gamers within the B2B house.
In accordance
to the corporate, market penetration stays at solely about 15% of the grownup
inhabitants in key markets, indicating substantial room for additional enlargement.
“This
formidable aim will preserve us targeted on revolutionising international monetary entry
by way of modern merchandise and seamless person experiences,” added Storonsky.
Banking License Progress
and Future Plans
In its
outlook for 2025, Revolut prioritized the formal launch of its UK financial institution
following the restricted banking license it secured in July 2024. The corporate
can be making ready to launch banking operations in Mexico and just lately obtained
approval for a Pay as you go Cost Instrument license in India.
Moreover,
Revolut disclosed in its annual report that CEO and founder Nikolay Storonsky
has elevated his possession stake to greater than 25% of the corporate following a
reorganization of its possession construction in April 2025.
The corporate
is actively securing over 10 international licenses and scaling current market entries
like Brazil whereas exploring additional alternatives throughout the Americas and
Asia-Pacific.
Francesca
Carlesi, Revolut’s UK CEO, has beforehand said that the journey to changing into a
totally licensed UK financial institution is a vital step within the firm’s international enlargement
and eventual IPO path.
Digital
banking big Revolut reported a 149% leap in revenue earlier than tax to $1.4 billion
(£1.1 billion) for 2024, marking its fourth consecutive yr of profitability
as the corporate continues its aggressive international enlargement.
The
London-based fintech noticed its buyer base develop by 38% to 52.5 million customers
worldwide, whereas whole buyer balances elevated 66% to $38 billion (£30
billion).
Group
income surged 72% to $4 billion (£3.1 billion) in comparison with $2.2 billion in
2023, with internet revenue reaching $1 billion (£790 million).
Nikolay Storonsky, CEO of Revolut, appears to be aiming for wide-ranging European enlargement (Revolut).
“This
efficiency earned us the standing of Europe’s most useful non-public expertise
firm,” mentioned Nik Storonsky, CEO of Revolut. “We’re making robust
progress in direction of 100 million each day energetic clients throughout 100 international locations.”
You might also like: Will Revolut Goal Its 5 Million-Consumer Market in France With CFDs Subsequent?
Crypto Leads
The
firm’s Wealth division noticed essentially the most important improve, with income
leaping 298% to $647 million (£506 million), largely pushed by elevated crypto
buying and selling and the launch of Revolut’s crypto alternate.
Card
funds income grew 43% year-over-year to $887 million, whereas international
alternate income elevated 58% to $540 million. The corporate’s subscription
enterprise generated $541 million, up 74% from 2023.
Key Monetary
Efficiency Metrics
|
Metric |
2024 |
2023 |
YoY Change |
|
Whole |
$4.0bn |
$2.2bn |
+72% |
|
Revenue |
$1.4bn |
$562m |
+149% |
|
Internet Revenue |
$1.0bn |
$428m |
+133% |
|
Internet Revenue |
26% |
19% |
+7% |
|
Buyer |
$38bn |
$23bn |
+66% |
|
Buyer Lending |
$1.2bn |
$655m |
+86% |
Curiosity
earnings rose 58% to $1 billion as Revolut successfully managed its rising
deposit base and expanded lending actions. The shopper lending portfolio
grew 86% to $1.2 billion, although this stays comparatively small in comparison with
conventional banks.
Notably,
the corporate’s internet revenue margin improved to 26%, up from 19% in 2023,
demonstrating the scalability of Revolut’s enterprise mannequin.
New Merchandise, New Areas
Revolut
continued to reinforce its product choices in 2024, increasing its Financial savings and
Cash Market Fund availability to over 30 international locations, which attracted $12.3
billion in deposits. The corporate additionally launched bonds and European funding
plans whereas securing a UK funding license.
The Revolut
Enterprise section confirmed robust momentum, with month-to-month energetic companies
rising 56% year-over-year. Enterprise clients contributed roughly 15%
of whole group income, positioning Revolut Enterprise as considered one of Europe’s largest
digital banking gamers within the B2B house.
In accordance
to the corporate, market penetration stays at solely about 15% of the grownup
inhabitants in key markets, indicating substantial room for additional enlargement.
“This
formidable aim will preserve us targeted on revolutionising international monetary entry
by way of modern merchandise and seamless person experiences,” added Storonsky.
Banking License Progress
and Future Plans
In its
outlook for 2025, Revolut prioritized the formal launch of its UK financial institution
following the restricted banking license it secured in July 2024. The corporate
can be making ready to launch banking operations in Mexico and just lately obtained
approval for a Pay as you go Cost Instrument license in India.
Moreover,
Revolut disclosed in its annual report that CEO and founder Nikolay Storonsky
has elevated his possession stake to greater than 25% of the corporate following a
reorganization of its possession construction in April 2025.
The corporate
is actively securing over 10 international licenses and scaling current market entries
like Brazil whereas exploring additional alternatives throughout the Americas and
Asia-Pacific.
Francesca
Carlesi, Revolut’s UK CEO, has beforehand said that the journey to changing into a
totally licensed UK financial institution is a vital step within the firm’s international enlargement
and eventual IPO path.