Revolut is a London-based digital bank and financial app founded in 2015 by Nik Storonsky and Vlad Yatsenko. In 2025 it reported £4.5 billion ($6.0 billion) in revenue and £1.7 billion ($2.3 billion) in profit before tax, served 68.3 million retail customers, and in July 2026 it was valued at $115 billion.
What Does Revolut Do?
- Personal accounts: cards, transfers and exchange in 30+ currencies, savings and budgeting.
- Paid plans: Plus, Premium, Metal and Ultra (roughly £3.99 to £55 a month in the UK) with higher limits, insurance and travel perks.
- Investing: stocks, ETFs, commodities and crypto.
- Credit: loans and credit cards, expanding in the UK after the March 2026 full licence.
- Revolut Business: accounts, company cards, expenses and merchant payments for 767,000 businesses (end-2025).
How Does Revolut Make Money?
Revolut's 2025 revenue of ~$5.94 billion (£4.5 billion) came from card payments (about $1.32 billion (£1.0 billion)), interest income (~$1.29 billion (£974 million)), subscriptions (~$935 million (£708 million)), wealth (~$875 million (£663 million)) and foreign exchange (~$800 million (£606 million)), plus business and lending income. Subscriptions grew fastest at 67%, while interest income grew 23%.
Origins
Storonsky, a former Lehman Brothers and Credit Suisse trader, was frustrated by the FX markups banks charged travellers. With engineer Vlad Yatsenko he launched Revolut at Level39 in Canary Wharf in July 2015 as a prepaid card offering interbank exchange rates. Word of mouth and referrals drove early growth.
Banking Licences
Revolut received a specialised EU banking licence in Lithuania in 2018. Its UK application, filed in 2021, led to a restricted licence in July 2024 and a long mobilisation phase. On 11 March 2026 the PRA lifted the restrictions, and Revolut Bank UK launched as a full bank with FSCS-protected deposits. In March 2026 Revolut also applied for a US national bank charter.
Valuation and Ownership
Revolut is private. Valuations rose from $33 billion in 2021 to $45 billion (August 2024), $75 billion (November 2025, led by Coatue, Greenoaks, Dragoneer and Fidelity) and $115 billion in a July 2026 secondary sale at $2,017 per share. Storonsky is the largest individual shareholder.
Growth Plans
Revolut aims for 100 million retail customers by mid-2027 and announced a $13 billion, five-year investment plan in September 2025. Priorities include UK lending, the US charter, banks in Mexico and Colombia, India, and a Western Europe hub in Paris.
Competitors
Revolut competes with Monzo and Starling in the UK, N26 and bunq in Europe, Wise in transfers, Robinhood, eToro and Coinbase in investing, Nubank in Latin America and incumbent banks such as Barclays and HSBC.
