In a major milestone, Revolut recorded its first $1 billion net profit in 2024, highlighting how the London-based financial super-app is successfully converting its expanding suite of services—from wealth management and credit to subscriptions—into strong financial performance.
(Image Source)
GLORevolut Achieves First Billion-Dollar Profit as Super-App Expansion Pays Off
In a major milestone, Revolut recorded its first $1 billion net profit in 2024, highlighting how the London-based financial super-app is successfully converting its expanding suite of services—from wealth management and credit to subscriptions—into strong financial performance.
The privately-owned fintech reported on April 24 that total revenue jumped 72% to $4.0 billion, with every core business segment posting double-digit growth. Its emerging wealth division saw the most dramatic rise, with revenue soaring 298% to $647 million. Meanwhile, profit before tax surged 149% to $1.4 billion, and net profit more than doubled, boosting its net margin from 19% to 26%.
The company attributed this growth to a rapidly increasing and more engaged user base. In 2024, Revolut added nearly 15 million users, bringing its total to 52.5 million—the largest annual increase in its nine-year history. Customer balances grew by 66% to $38 billion, while transaction volume hit $1.3 trillion, up 52%, helping lift interest income by 58% to $1.0 billion.
Diverse Revenue Streams Power Growth
Revolut’s revenue growth was widespread across segments:
-
Card payment income rose 43% to $887 million, helped by higher spending limits on premium accounts.
-
Subscription revenue climbed 74% to $541 million, fueled by stronger uptake of Premium, Metal, and Ultra plans, with overall paid-plan usage increasing 45%.
-
In business banking, monthly active corporate clients surged 56%, driving revenue to $592 million—15% of total group revenue—solidifying Revolut’s position as one of Europe’s top digital B2B banks.
CEO Nik Storonsky emphasized the company’s long-term vision, stating Revolut is “just getting started.” The company aims to reach 100 million daily users in 100 countries, with 2025 goals that include launching fully licensed banks in the UK and Mexico, entering India via a new payments license, and rolling out mortgage offerings.
Despite its breakout year, Revolut estimates it has only penetrated around 15% of the adult population in its primary markets—leaving significant room for future growth.
New Products and Markets on the Horizon
As part of its ongoing innovation push, Revolut is developing a rewards-based credit card integrated with its RevPoints loyalty program. Still in early design, the product is expected to launch in the UK across all subscription tiers. RevPoints, introduced in July, allows users to earn points on everyday purchases that can be redeemed for airline miles, hotel stays, and more. Expanding this to credit cards would place Revolut in direct competition with traditional reward-heavy issuers like American Express.
In another recent move, Revolut announced plans to offer UK stocks on its investment platform, which already features U.S. and European equities and has around 800,000 UK investors. According to Yana Shkrebenkova, CEO of Revolut’s UK wealth division, demand for local market options is growing.
Looking ahead, Francesca Carlesi, CEO of Revolut’s UK operations, confirmed the company is focused on obtaining a full UK banking license, broadening its international reach, and ultimately pursuing an IPO. With a growing suite of services that lets users pay, invest, save, and manage money, Revolut continues to position itself as a comprehensive platform for personal finance.
Source: Revolut
Disclaimer: Press release
© Press Release 2025
Send us your press releases to news@globalloyalty.org
Press releases originate from external third-party providers. This website does not have responsibility or control over its content, which is presented as is, without any alterations. Neither this website nor its affiliates guarantee the accuracy of the views or opinions expressed in the press release.
The press release is intended solely for informational purposes and does not offer tax, legal, or investment advice, nor does it express any opinion regarding the suitability, value, or profitability of specific securities, portfolios, or investment strategies. Neither this website nor its affiliates are liable for any errors or inaccuracies in the content, nor for any actions taken based on it. By using the information provided in this article, you agree to do so at your own risk.
To the maximum extent permitted by applicable law, this website, its parent company, subsidiaries, affiliates, shareholders, directors, officers, employees, agents, advertisers, content providers, and licensors shall not be liable to you for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages, including but not limited to lost profits, savings, and revenues, whether in negligence, tort, contract, or any other theory of liability, even if the possibility of such damages was known or foreseeable.
The images used in press releases and articles provided by 3rd party sources belong to the respective source provider and are used for illustrative purposes in accordance with the original press releases and publications.
Disclaimer: Content
While we strive to maintain accurate and up-to-date content, Global Loyalty Organisation Ltd. makes no representations or warranties of any kind, express or implied, about the correctness accuracy, completeness, adequacy, or reliability of the information or the results derived from its use, not that the content will meet your requirements or expectations. The content is provided “as is” and “as available”. You agree that your use of the content is at your own risk. Global Loyalty Organisation Ltd. disclaims all warranties related to the content, including implied warranties of merchantability, fitness for a particular purpose, non-infringement, and title, and is not liable for a particular purpose, non-infringement, and title, and is not liable for any interruptions. Some jurisdictions do not allow the exclusion of certain warranties, so these jurisdictions may not apply to you. Global Loyalty Organisation Ltd. Reserves the right to modify, interrupt, or discontinue the content without notice and is not liable for doing so.
Global Loyalty Organisation Ltd. shall not be liable for any damages, including special, indirect, consequential, or incidental damages, or damages for lost profits, revenue, or use, arising out of or related to the content, whether in contract, negligence, tort, statute, equity, law, or otherwise, even if advised of such damages. Some jurisdictions do not allow limitations on liability for incidental or consequential damages, so this limitation may not apply to you. These disclaimers and limitations apply to Global Loyalty Organisation Ltd. and its parent, affiliates, related companies, contractors, sponsors, and their respective directors, officers, members, employees, agents, content providers, licensors, and advisors.
The content and its compilation, created by Global Loyalty Organisation Ltd, are the property of Global Loyalty Organisation Ltd. and cannot be reproduced without prior written permission.
