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Valued at $1.7 billion (£1.3 billion) and funded to the tune of $336.5 million (£257 million), Revolut is one of the world's biggest fintech unicorns.
Updated . What changed?
Revolut is a fintech company that provides a debit card and a Swiss Army knife of an app, packed full of features including (hold your breath): a current account, peer-to-peer payments, currency exchange, multi-currency cards, day-by-day in-app insurance purchases and the option to buy cryptocurrency.
The company has been in the news for its aggressive expansion into dozens of countries, monster valuation and fundraising rounds, its ongoing battle with the likes of Monzo and Starling Bank in the UK and its apparently cut-throat working environment – Revolut’s company slogan is “Get
- Who founded Revolut? Nikolay Storonsky and Vlad Yetsenko in July 2015.
- Where is Revolut’s headquarters? Revolut is headquartered in London, with offices in more than 20 locations worldwide.
- How much funding does Revolut have? Revolut’s total funding is £627 million.
- How much revenue does Revolut make? Revolut made £58.2 million revenue in FY 2018.
- What’s Revolut’s valuation? Revolut has a $1.7 billion market valuation (as of 26 April 2018).
- How many customers does Revolut have? Revolut has over 12 million customers and supports usage in 35 countries.
Revolut’s growth over time
Since launching, Revolut has achieved the sort of growth entrepreneurs and CEOs dream of. By opening offices in over 20 countries, Revolut has been able to expand aggressively and beat competitors to the punch in different markets. Today, it has offices in London, New York, Singapore, Berlin and more.
Revolut has more than 12 million users, with an ambitious goal to onboard 100 million within 5 years. The company said in 2019 that it had 250,000 daily active users and numbers continue to grow.
Revolut dwarfs the competition when it comes to user numbers
With a steady increase, 440,000 customers join Revolut every month on average. In December 2020, the number of customers is projected to be 16.45 million, compared to the current 12 million (August 2020).
|Bank||Number of users|
|Starling Bank||1.5 million|
Revolut investment alongside other fintechs
Revolut’s fundraising rounds have amassed $836 million (£628 million) in total, with investors including DST Global – which was an early backer of Facebook and Spotify.
The company has 29 main investors. A large share of Revolut’s funding comes from venture capital firms such as Lakestar and Index Venture, as well as individual investors such as Nicole Junkermann and Ian Hannam.
Another notable investor is Andy Murray – yes, that one. The tennis star invested £17 million in 2017 during a crowdfunding campaign.
|Starling Bank||£313 million|
Revolut’s valuation in July 2020 was a whooping $5.5 billion (£4.1 billion). The annual revenue was £174 million in 2019, compared to £58 million in the 2018 financial year.
Revolut, founded 2014, is one of only 18 “unicorns” in the UK
- Revolut, 2014
- BenevolentAI, 2013
- Oxford Nanopore, 2005
- The Hut Group, 2008
- BrewDog, 2006
- Deliveroo, 2012
- OakNorth, 2013
- Transferwise, 2010
- Improbable, 2012
- Darktrace, 2013
- Monzo, 2015
- Graphcore, 2016
- Ovo Energy, 2009
- Checkout.com, 2012
- babylon, 2013
- CMR Surgical, 2014
- Snyk, 2015
- Gymshark, 2012
Revolut revenue and financials
|GBP||FY, 2016||FY, 2017||FY, 2018||FY, 2019|
|Gross profit||£7 million||£14.8 million||£33 million||£107 million|
|Gross profit margin %||296%||116%||57%||61%|
|Revenue||2.4 million||12.8 million||58 million||174 million|
|Revenue growth %||1869 %||442 %||353 %||200 %|
Revolut has more than 2,100 employees worldwide, where around 500 are located in the UK. The most common skills are SQL, data analysis and Python. Some of the key figures at Revolut are:
- Nikolay Storonsky – CEO and co-founder
- Vladyslav Yatsenko – CTO and co-founder
- Andrius Biceika – Head of people
- Dinis Cruz – Chief information security officer
- Alan Chang – SVP revenue and operations
- Martin Gilbert – Non-executive chairman
Revolut office locations
- London, UK
- New York, US
- Melbourne, Australia
- São Paulo, Brazil
- Toronto, Canada
- Paris, France
- Berlin, Germany
- Mumbai, India
- Dublin, Ireland
- Tokyo, Japan
- Vilnius, Lithuania
- Kraków, Poland
- Warsaw, Poland
- Lisbon, Portugal
- Porto, Portugal
- Moscow, Russia
- Saint Petersburg, Russia
- Singapore, Singapore
- Barcelona, Spain
- Stockholm, Sweden
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