Revolut (founded by Nik Storonsky) publishes its annual report (April 2025) with $4.0 bn in revenues and $1.4 bn in profit; the company closes 2024 with 52.5 M
By Strathens Media | 21 August 2025 |
The numbers for Revolut in 2024 leave little doubt: the company is no longer just an exchange app, but a financial platform with scale and margin. The group reported $4.0 bn in revenues — a 72% increase versus 2023 — and a $1.4 bnprofit before tax, figures published in its annual report and shared with investors in April 2025. At year-end the customer base reached 52.5 million, with customer balances approaching $38 bn, evidencing not only volume but also a deeper engagement of users with the platform.
The growth recipe has been, on paper, straightforward: more users using more higher-value products. Revolut monetized usage through card and FX fees, but above all through the expansion of its “Wealth” business — trading and crypto — and subscription services, which have increased ARPU and shifted the revenue mix toward more recurrent and higher-margin sources. That diversification explains why the fintech moved from periodic losses to sustainable profits in a short time frame.
Revolut’s rise has clear implications for traditional banking. First, it demonstrates that a digital-first product, if it achieves sufficient scale and couples that with regulatory licenses, can take on functions that were historically the preserve of banks — deposits, payments and investment services — forcing incumbents to rethink pricing, experience and speed to market. Second, the platform shows that bundling services (account, card, savings, trading) boosts retention and customer lifetime value, putting pressure on legacy margins. Third, the licensing process — including the complex relationship with supervisors in the UK and other jurisdictions — underlines that expansion must be paired with strong controls and governance to sustain scale.
In sum, Revolut’s 2024 results are more than solid figures: they serve as a case study of the ongoing transformation in the banking industry. For regulators, investors and incumbent banks, the message is twofold and clear: competitive advantage no longer depends solely on branch networks, but on the capacity to combine product, data and compliance into a platform that delivers immediate value to users. Revolut has shown that such a model can scale; the question now is whether it can do so with control and sustainability while it redefines the rules of the game.