Revolut statistics: Revenue, number of customers and market share

We look at how challenger bank Revolut is growing over time.

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By

Matthew Boyle

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Revolut is a fintech company that provides a debit card and a banking app packed full of features. It’s a big name in the challenger banking space, but what are the latest statistics on Revolut? We look at the number of Revolut customers in the UK and worldwide, as well as its latest reported revenue, valuation and market share.

Quick overview

  • Revolut has 30 million customers worldwide as of June 2023.
  • 6.8 million of Revolut’s customers are from the UK, making up almost a quarter (23%).
  • More than 1 in 10 UK adults (13%) has an account with Revolut.
  • More than half (53%) of Revolut customers are aged between 18 and 34.
  • In 2021, Revolut was valued at $33 billion (approximately £24 billion).
  • Revolut reported revenue of £850 million for 2022.
  • As of February 2023, Revolut has had approximately 38.2 million app downloads, with 8.7 million in the UK.
  • Revolut’s funding total is $1.7 billion (around £1.3 billion) after 18 rounds.

How many customers does Revolut have?

Revolut has 30 million customers worldwide as of June 2023. 6.8 million of Revolut’s customers come from the UK, making up almost a quarter (23%) of total customers. This also means that more than 1 in 10 UK adults (13%) has an account with Revolut.

Revolut hit 25 million customers in November 2022, and these figures have been continually growing, with 5 million new customers joining in just 7 months. 1.2 million new customers from the UK joined in this period.

More than half (53%) of Revolut customers are aged between 18 and 34, while just 12% of its customers are 55 and over. An estimated 61% of Revolut’s UK customers are male, whilst nearly 39% of its UK customers are female, meaning that around 4.6 million are men and almost 2.7 million are female.

Age Percentage
65+ 4.15
55-64 7.44
45-54 12.9
35-44 22.67
25-34 34.49
18-24 18.35

How many customers does Revolut have in different countries?

While most customers are from the UK, Revolut has a worldwide impact, with nearly 3 million customers in Romania, 2.5 million in Poland and over 2 million in France. Its global customer base is constantly growing and expanding, with thousands of customers joining various countries in Europe in less than a year.

Country Customers prior to Nov 2022 New customers since Nov 2022
UK 5,600,000 1,200,000
Romania 2,300,000 500,000
Poland 2,020,000 480,000
France 1,760,000 440,000
Spain 1,350,000 450,000

What is Revolut’s revenue?

Revolut reported revenue of £850 million for 2022, an increase of over 30% from revenue of £636 million in 2021. Previously, revenue had tripled from £220m in 2020 to £636m in 2021.

The e-money provider hit profitability for the first time in 2021, earning over £100 million before interest and taxes and making £26.3m in profit. This was mainly due to Revolut expanding its features and adding new products, such as Revolut Business and Subscriptions.

Year Revenue growth (£mill)
2018 58
2019 166
2020 220
2021 636
2022 850

What is Revolut’s valuation in 2023?

In 2021, Revolut was one of the most valuable fintech firms in the UK, with a valuation of $33 billion (approximately £24 billion).

However, after a recent write-down from one of its investors, it is now implied that the company will have its valuation reduced by 40%. This would mean it would be worth $19.8bn (around £15.6bn), losing over $13 billion (around £10 billion) of its valuation.

What is Revolut’s market share?

Based on existing valuations, Revolut is the largest unicorn e-money provider in Europe, with its 2021 valuation of $33 billion (approximately £25.2 billion). While these numbers from 2021 should be treated with caution, Revolut is most likely still the largest unicorn e-money provider in Europe in terms of market share.

In terms of Revolut’s market share by region, the UK has a 20% market share of Revolut app downloads. This is followed by France with 9% and Ireland, Poland and Romania, all with an 8% share of the app market.

Country Percentage
UK 20%
France 9%
Romania 8%
Poland 8%
Ireland 8%
US 6%
Spain 6%
Italy 5%

What is the value of Revolut customer deposits?

Revolut customer deposit balances have grown over time, increasing by 58% from £4.6 billion in 2020 to £7.4 billion in 2021. For 2021, the average monthly customer deposit was £462.50, a 16.8% increase from 2020, when the average monthly customer deposit was £396.

Year Average monthly customer deposit (£)
2018 251
2019 305
2020 396
2021 462.5

Revolut funding rounds

Revolut’s funding total is $1.7 billion (around £1.3 billion) after 18 funding rounds. Revolut’s latest funding round was in August 2021 and raised its Series E funding to $800 million (around £600 million). Revolut has 49 investors, but only 11 of them are lead investors. These lead investors include Tiger Global Management and TCV.

Other quick Revolut facts

  • When was Revolut founded? July 2015.
  • Who founded Revolut? Nikolay Storonsky and Vlad Yetsenko.
  • Where is Revolut’s headquarters? Revolut is headquartered in London, with offices in more than 21 locations worldwide, ranging from Singapore to Berlin.
  • Has Revolut ever won any awards? Revolut was in the top 15 of LinkedIn’s Top Companies to grow your career in the UK in 2023. They also won first place in the National Graduate Recruitment Awards for being the most popular ‘scale-up’ graduate recruiter.

Sources

  • Revolut
  • Statista
  • Business of Apps
  • Similar Web
  • The Guardian

Click here for more research. For all media enquiries, please contact

Matt Mckenna
Head of UK communications
T: +44 20 8191 8806
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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