Digital
banking large Revolut reported a 149% bounce 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 world growth.
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 web revenue reaching $1 billion (£790 million).
Nikolay Storonsky, CEO of Revolut, appears to be aiming for wide-ranging European growth (Revolut).
“This
efficiency earned us the standing of Europe’s most beneficial personal know-how
firm,” mentioned Nik Storonsky, CEO of Revolut. “We’re making sturdy
progress in the direction of 100 million day by day energetic prospects 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 vital enhance, with income
leaping 298% to $647 million (£506 million), largely pushed by elevated crypto
buying and selling and the launch of Revolut’s crypto trade.
Card
funds income grew 43% year-over-year to $887 million, whereas overseas
trade 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
Income
$4.0bn
(£3.1bn)
$2.2bn
(£1.8bn)
+72%
Revenue
Earlier than Tax
$1.4bn
(£1.1bn)
$562m
(£452m)
+149%
Web Revenue
$1.0bn
(£790m)
$428m
(£344m)
+133%
Web Revenue
Margin
26%
19%
+7%
Buyer
Balances
$38bn
(£30bn)
$23bn
(£18bn)
+66%
Buyer Lending
Portfolio
$1.2bn
(£979m)
$655m
(£528m)
+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 web 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 boost 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 phase confirmed sturdy momentum, with month-to-month energetic companies
rising 56% year-over-year. Enterprise prospects contributed roughly 15%
of whole group income, positioning Revolut Enterprise as one among Europe’s largest
digital banking gamers within the B2B area.
In accordance
to the corporate, market penetration stays at solely about 15% of the grownup
inhabitants in key markets, indicating substantial room for additional growth.
“This
bold aim will maintain us centered on revolutionising world monetary entry
by way of progressive merchandise and seamless consumer 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 getting 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 world 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 acknowledged that the journey to turning into a
absolutely licensed UK financial institution is a vital step within the firm’s world growth
and eventual IPO path.
Digital
banking large Revolut reported a 149% bounce 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 world growth.
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 web revenue reaching $1 billion (£790 million).
Nikolay Storonsky, CEO of Revolut, appears to be aiming for wide-ranging European growth (Revolut).
“This
efficiency earned us the standing of Europe’s most beneficial personal know-how
firm,” mentioned Nik Storonsky, CEO of Revolut. “We’re making sturdy
progress in the direction of 100 million day by day energetic prospects 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 vital enhance, with income
leaping 298% to $647 million (£506 million), largely pushed by elevated crypto
buying and selling and the launch of Revolut’s crypto trade.
Card
funds income grew 43% year-over-year to $887 million, whereas overseas
trade 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
Income
$4.0bn
(£3.1bn)
$2.2bn
(£1.8bn)
+72%
Revenue
Earlier than Tax
$1.4bn
(£1.1bn)
$562m
(£452m)
+149%
Web Revenue
$1.0bn
(£790m)
$428m
(£344m)
+133%
Web Revenue
Margin
26%
19%
+7%
Buyer
Balances
$38bn
(£30bn)
$23bn
(£18bn)
+66%
Buyer Lending
Portfolio
$1.2bn
(£979m)
$655m
(£528m)
+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 web 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 boost 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 phase confirmed sturdy momentum, with month-to-month energetic companies
rising 56% year-over-year. Enterprise prospects contributed roughly 15%
of whole group income, positioning Revolut Enterprise as one among Europe’s largest
digital banking gamers within the B2B area.
In accordance
to the corporate, market penetration stays at solely about 15% of the grownup
inhabitants in key markets, indicating substantial room for additional growth.
“This
bold aim will maintain us centered on revolutionising world monetary entry
by way of progressive merchandise and seamless consumer 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 getting 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 world 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 acknowledged that the journey to turning into a
absolutely licensed UK financial institution is a vital step within the firm’s world growth
and eventual IPO path.
