Revolut

Revolut is a London-headquartered banking and financial technology group founded on 1 July 2015 by Nik Storonsky and Vlad Yatsenko. It began as a multi-currency card and foreign exchange app built around fair exchange rates, and now offers free and subscription-based digital banking delivered primarily through a mobile app. The product range spans current accounts, debit cards, stock trading, personal loans, foreign exchange, insurance, buy-now-pay-later, business accounts, peer-to-peer payments and cryptocurrency services.

The company makes its money from subscription plans and from financial transactions across that product set. Group revenue reached £4.5 billion in 2025, up 46% on the previous year, and pre-tax profit rose 57% to £1.7 billion — a 38% pre-tax margin, up from 35% in 2024, and a fifth consecutive profitable year. The income base is unusually broad for a neobank: subscriptions alone were reported at roughly $708 million, up 67%, alongside about $1.0 billion of card fees, $876 million of investment services revenue and $974 million of interest income.

Revolut has built its position by acquiring its own licences rather than renting balance sheet. It obtained an EU banking licence in 2018 and began operating as a bank in ten European countries in 2022; the Prudential Regulation Authority allowed it to exit mobilisation and launch as a fully licensed UK bank on 11 March 2026, closing a process it started in 2021. In January 2026 it opened Revolut Bank S.A. in Mexico, its first bank outside Europe, and it holds an Australian banking licence and a Reserve Bank of India prepaid payment instruments authorisation.

The trajectory is toward a global, fully chartered bank. Retail customers grew 30% to 68.3 million in 2025 and business clients 33% to 767,000, while customer balances rose 66% to $67.5 billion and total transaction volume rose 65% to $1.7 trillion. Storonsky has framed the goal as serving 100 million customers; the Office of the Comptroller of the Currency granted conditional approval for a US national bank charter in September 2026, and the company is working toward a US listing that its CEO has placed roughly two years out.