Flagship challenger bank continues exponential growth and expansion confirming the business model sustainability
Country: UK
Founded: 2015
Team: Nik Storonsky, Vlad Yatsenko
About Company
Revolut is well-positioned as one of the largest global neo banks with a wide range of services, including mobile banking, card payments, money remittance, cryptocurrency trading, foreign exchange, brokerage, and insurance services. The main markets are the UK and the EU, also present in the USA and other regions, currently expanding into 80 countries with more than 35 m customers worldwide. Revolut has a specialized European Union (EU) banking license (2018) and has been granted a full banking license by the European Central Bank (ECB) (2021). Applications for a UK and US banking license have been made (2021)
Key Investors
Key Highlights
- In 2023, Revolut Group revenues increased by 95% to $2.2bn (£1.8bn), from $1.1bn (£0.92bn) in 2022 - Revolut operated on a healthy net profit margin in 2023 - 6x valuation growth in 2021 at the last round - 48% current discount to LR presents an attractive entry opportunity - 3x revenue growth in 2021 (YoY), 1.3x growth in 2022 - TOP-2 global neo bank by valuation after Nubank in 2024 ($17 bn) - 34+% growth of customers to 35 m in end-2023 - Product and geographic expansion: entered Brazil (May 2023), New Zealand (July 2023), obtained over 70 licenses across a range of financial services and pushing to obtain a UK banking license - Revolut continued to expand it business activity in 2023, introducing new products in different countries such as Pay Later, Revolut Pay, Revolut Ultra, and others
About Company
Revolut is well-positioned as one of the largest global neo banks with a wide range of services, including mobile banking, card payments, money remittance, cryptocurrency trading, foreign exchange, brokerage, and insurance services. The main markets are the UK and the EU, also present in the USA and other regions, currently expanding into 80 countries with more than 35 m customers worldwide. Revolut has a specialized European Union (EU) banking license (2018) and has been granted a full banking license by the European Central Bank (ECB) (2021). Applications for a UK and US banking license have been made (2021)
Key Investors
Key Highlights
- In 2023, Revolut Group revenues increased by 95% to $2.2bn (£1.8bn), from $1.1bn (£0.92bn) in 2022 - Revolut operated on a healthy net profit margin in 2023 - 6x valuation growth in 2021 at the last round - 48% current discount to LR presents an attractive entry opportunity - 3x revenue growth in 2021 (YoY), 1.3x growth in 2022 - TOP-2 global neo bank by valuation after Nubank in 2024 ($17 bn) - 34+% growth of customers to 35 m in end-2023 - Product and geographic expansion: entered Brazil (May 2023), New Zealand (July 2023), obtained over 70 licenses across a range of financial services and pushing to obtain a UK banking license - Revolut continued to expand it business activity in 2023, introducing new products in different countries such as Pay Later, Revolut Pay, Revolut Ultra, and others