Revolut has reached a significant milestone in the United Kingdom, with the fintech company now serving 10 million customers. This achievement underscores its position as a leading player in the financial technology sector and paves the way for the launch of its banking services.
Revolut has experienced substantial growth, with nearly 2 million new customers added in 2024 alone. This surge in user numbers was highlighted by City AM, which also noted a recent secondary share sale valuing the company at $45 billion. Additionally, Revolut received a restricted UK banking licence from the Prudential Regulation Authority (PRA) in July.
The fintech firm has rolled out several new features for its UK users this year, including mobile wallets and Revpoints. Plans are also underway to move its global headquarters to Canary Wharf. CEO Francesca Carlesi remarked, “Today’s announcement is a tremendous achievement for Revolut. Ten million customers across the UK makes us one of the largest payments businesses in the market, and we are incredibly grateful to our growing customer base, who continue to use Revolut more and more.”
As Revolut looks to launch its banking services in the UK in the coming months, Carlesi added, “The UK is our home market, and is the base for the company’s wider global expansion plans. As we work towards launching the bank in the UK in the coming months, we will continue to offer products and services that improve the financial lives of everyone who uses Revolut.”
Moreover, Revolut has announced plans to expand its operations to India next year. The app is currently available across most of mainland Europe, with significant markets in Romania, Poland, France, Ireland, and Spain. Revolut’s popularity in these regions is attributed to its diverse range of financial services, including currency exchange, stock trading, and cryptocurrency access.
The firm’s growth strategy heavily relies on partnerships and local knowledge to tailor its services to regional needs. For instance, in Europe, Revolut has collaborated with financial institutions to integrate local payment systems, thereby enhancing the user experience.
Revolut’s milestone of 10 million customers in the UK marks a pivotal point in its journey, as the company prepares to introduce its banking services and expand globally. With its strategic growth plans and commitment to enhancing financial services, Revolut continues to strengthen its foothold in the fintech industry.
