U.K based Fintech company Revolut has reported a strong performance for the fiscal year 2024. The firm’s profits went up to $1.4 billion, with key contributors being its stock and digital asset trading portion of the business.
According to the company’s 2024 annual report, Revolut saw a total of $4 billion in revenue (3.1 billion pounds).
The company’s wealth arm grew by 300% on a year-on-year basis. A huge portion of this growth came from crypto trading and the launch of its crypto exchange, RevolutX. RevolutX was launched in May 2024. It is a cryptocurrency exchange for traders with 100 available tokens for trading purposes.
Over 2024, Revolut brought in 14.5 million new customer accounts, boosting its total customer base to over 50 million.
The company continues to expand from its traditional strongholds in the U.K. and Ireland to the broader European market. Revolut obtained its U.K. banking license in 2024.
Revolut is a U.K.-based fintech that offers multiple financial products such as banking services, debit cards, credit cards, stock trading, crypto trading, and P2P payments. It was launched in 2015 by co-founders Nik Storonsky and Vlad Yatsenko. The company raised a total of $15 million in its Series A funding and $66 million in its Series B funding.