Revolut Surpasses 50 Million Global Customers After Adding 10 Million in 2024

Revolut announced on 19 November 2024 that it had surpassed 50 million global customers, a milestone achieved after adding 10 million new users in the course of 2024. The London-headquartered fintech, which received a UK banking licence with restrictions from the Prudential Regulation Authority in July 2024, entering the mobilisation stage, confirmed that 10 million of its total customer base were located in the United Kingdom.

The announcement also highlighted Revolut's 2023 results, with pre-tax profits of $545 million, and its $45 billion valuation, set in a 2024 secondary share sale that allowed employees to sell shares.

MOST DOWNLOADED FINANCIAL APP IN UK AND EUROPE

Revolut stated that it had become the most downloaded financial application in the United Kingdom and across Europe in 2024. The platform has expanded beyond its origins as a travel money card and multi-currency account, adding savings products, equities and cryptocurrency trading, insurance, business banking, and buy-now-pay-later features.

Once it completes mobilisation and launches as a full UK bank, Revolut will be able to offer deposit protection through the Financial Services Compensation Scheme and extend a broader range of regulated products to British customers.

RESULTS AND PLANS

The 2023 pre-tax profit of $545 million was Revolut's strongest annual result to date. Revolut said it had aggressive plans to continue growing its customer base towards the 100 million milestone.