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Founded in December 2013, Revolut is a London-based digital bank that has rapidly expanded its customer base. By December 2024, Revolut had reached **** million customers, making it the largest European online bank. The platform is most prevalent in France, Spain, and the United Kingdom, with growing presence in Italy, Brazil, Germany, the United States, Poland, Portugal, and Romania. Between March 2015 and January 2025, the Revolut app was downloaded over ** million times in the UK, highlighting its considerable market penetration.

Revolut's expanding customer base

Revolut has experienced notable growth in its customer base since its foundation, reflecting its success as a leading digital banking platform. In November 2024, Revolut announced that it had reached an impressive ** million users, a significant leap from the *** million customers it had in February 2018. This exponential increase underscores the platform's popularity and its effective strategies in expanding its user base. Continuing this upward trajectory, Revolut's customer base is forecast to exceed ** million by the end of 2025.

Is Revolut profitable?

Revolut's financial journey has been marked by sizable complexity and evolution. After reporting its first annual profit in 2021, the digital bank experienced a notable profit decline in 2022. However, 2023 emerged as a breakthrough year, with net profits soaring to over *** million British pounds — the most profitable period in the neobank's history. The massive profit in 2023 signals a potential turning point for the digital banking platform, showing it can compete effectively with traditional banks and emerging fintech rivals.