Key growth figures of Revolut 2022

Incorporated in December 2013, the London-based challenger bank Revolut has grown exponentially. In February 2018, Revolut announced that they had hit 1.5 million customers, a figure that had grown to 35 million by October 2023. In 2023, Revolut had the highest number of customers of any European online bank.

Revolut

Revolut has two main pillars of intention as a company. The first is to create a single platform that fulfills the financial needs of its customers. The second target is for the bank to become truly global. In 2023, Revolut's products were supported across 38 countries worldwide. Revolut saw mixed growth rates between December 2021 and December 2022, with revenue, retail customer base, total assets, and total equity witnessing notable growth rates, while net profit and total comprehensive profit/loss seeing negative growth rates. 

Disruptors

Banking and financial services are typically among the first industries to embrace technological advances; starting as far back in time as the appearance of automated teller machines (ATMs) and credit cards. Ever since the first secure Internet systems for financial operations became available on a large scale, accessing one's bank account online to carry out transactions, pay off credit cards, establish credit lines or invest savings became one of the fastest growing areas of Internet activities. The penetration of online banking in Great Britain has been attributed in part to the agility with which challenger banks can adapt and evolve, as well as their ability to attract large amounts of funding. In terms of market value, Revolut is one of the largest online banks in Europe.