Revolut, the UK-based FinTech giant and licensed European bank, has announced a major milestone, reaching 50 million customers globally. Of these, 10 million are based in the UK.
This remarkable growth reflects a surge of over 10 million new customers in 2024 alone, making Revolut the most downloaded financial app in both the UK and Europe. The achievement caps an impressive year for Revolut, which included a $45bn valuation, the receipt of a UK banking licence with restrictions during its mobilisation stage, and 2023 group revenues exceeding $2.2bn with pre-tax profits of $545m.
Revolut has set its sights on reaching 100 million customers, bolstered by an ambitious product rollout strategy designed to make it the go-to bank for its users. Recent innovations in the UK include the launch of eSIMs to curb high data roaming costs, RevPoints, a pan-European debit card loyalty programme, and Mobile Wallets for faster international transfers. Additionally, the introduction of Wealth Protection adds an extra layer of biometric security to safeguard customer savings.
Nik Storonsky, CEO of Revolut, highlighted the company’s vision, stating: “Revolut exists for one reason: to simplify money for everyone, everywhere. This year we’ve taken huge steps forwards – breaking records, accelerating the speed at which we’re launching products and continuing to disrupt financial services globally. We’re moving faster than ever because we know the opportunity to revolutionise global financial services for our customers is still massive.”
Founded in 2015, Revolut began as a platform for money transfer and exchange and has since grown to offer a suite of products catering to over 50 million customers globally. With its innovative offerings, Revolut processes over half a billion transactions monthly, striving to give customers greater control over their finances.
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