Revolut has become a global force for change in the banking industry. Throughout the 30 countries around the world where it operates as a licenced bank, it has sent incumbent lenders back to the drawing board, forcing them to rethink their strategy and reexamine the competitiveness of their customer proposition.
The bank has already shown what a difference agility and ambition can make in Europe. Local branches and payments integrations have helped it outperform the local incumbent leader in terms of new accounts in almost every single large European market. In many smaller markets its dominance of new account flows is even more evident. It is a top three finance app by downloads in 28 European countries.
But Revolut’s growth and ambition is by no means restricted to Europe. In India, it is investing hundreds of millions of pounds with a view to gain 20 million customers in that market by 2030, and it has already invested more than $100 million in Mexico, in addition to buying a bank in Argentina. It is tripling its workforce in Singapore as a hub for expansion in Asia and has launched a global tech hub in the Philippines. It is one of the fastest growing B2C fintech businesses in Australia. The list goes on.
Launching the UK bank was a watershed moment for Revolut, but also for the group. This has been long in the making. It unlocks the next stage of global growth
Francesca Carlesi
Working towards gaining a full UK banking license and launching Revolut Bank UK Ltd was undoubtedly a key focus over the year – and ultimately a successful one. Revolut will now be able to launch proprietary credit and bank deposit products in the UK, but the license has global relevance symbolically and strategically, as the UK is the site of its global headquarters and biggest market.
“Launching the UK bank was a watershed moment for Revolut, but also for the group,” says Francesca Carlesi, CEO of the UK business. “This has been long in the making. It unlocks the next stage of global growth, in the sense that our home regulator is also the UK regulator and the regulator for our consolidated group business.”
The bank’s advances in its licensing framework, indeed, are far from limited to the UK. In October, it gained final approval to begin banking operations in Mexico and it was permitted to set up a bank in Colombia the same month. It also secured a payments license in India and launched current accounts, debit cards and bill payments in Brazil earlier in 2025.
Meanwhile, business banking is one of the clearest areas where the extent of its ambition shows, and where it most obviously shows how far it is moving beyond its travel money past. Business customers jumped 33% in 2025 to reach 767,000, while business transaction volumes surged 56% to £277 million. In Europe, it is seeing more than 100,000 business app downloads per month.
Financially, 2025 was its fifth consecutive year of profitability and the growth was remarkable. Revenue jumped from £3.1 billion in 2024 to £4.5 billion in 2025, and economies of scale meant its net income jump was higher still, reaching £1.7 billion. Total customer balances rose 66% to £50.1 billion – a strong sign of the growing trust it commands.
No one-trick pony
On the product side, the offering has blossomed across savings, credit, investments, and more, with mobile phone plans in the UK and Poland and a new global partnership between Revolut Pay and booking.com. It also launched its first mortgage products in Lithuania, setting up a springboard for the rest of Europe.
Even as banking apps have become more commoditised in recent years, its pace of product development remains far ahead of the pack.
“While incumbents may be fast followers, they are still hamstrung by legacy backend systems and data sitting in silos across business verticals,” says Sid Jajodia, chief banking officer. “Our technology and speed of innovation allow us to stay at the forefront of creating a best-in-class experience, and customers see that.”
As Jajodia points out, the days when rivals could accuse Revolut of being a mono-liner with a limited product range are long behind – as its revenue has spread between card payments, subscriptions, foreign exchange, interest income and wealth. “Multiple product streams are now driving the company’s growth in revenue,” he says. “And we’re seeing deeper engagement per user as we grow into primary banking relationships with our customers.”
