Incorporated in December 2013, the London based challenger bank Revolut has grown exponentially. In February 2018, the London based company Revolut announced that they had hit 1.5 million customers, a figure that had grown to 25 million by November, 2022. Currently Revolut has the highest number of customers of any European online bank.
Revolut has two main pillars of intention as a company. The first is to create a single platform that fulfils the financial needs of its customers. The second target is for the bank to become truly global. Currently Revolut's products are supported across 36 countries worldwide. In the year ending December 2021, Revolut saw its revenues grow by more than 400 million British pounds from the previous year.
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 of 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 excelled in part to the agility in 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 largest online banks in Europe.
Key financial figures for Revolut from 2017 to 2021
(in million GBP)
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Revolut. (February 27, 2023). Key financial figures for Revolut from 2017 to 2021 (in million GBP) [Graph]. In Statista. Retrieved December 06, 2023, from https://www.statista.com/statistics/1089680/key-financial-figures-for-revolut-bank-united-kingdom/
Revolut. "Key financial figures for Revolut from 2017 to 2021 (in million GBP)." Chart. February 27, 2023. Statista. Accessed December 06, 2023. https://www.statista.com/statistics/1089680/key-financial-figures-for-revolut-bank-united-kingdom/
Revolut. (2023). Key financial figures for Revolut from 2017 to 2021 (in million GBP). Statista. Statista Inc.. Accessed: December 06, 2023. https://www.statista.com/statistics/1089680/key-financial-figures-for-revolut-bank-united-kingdom/
Revolut. "Key Financial Figures for Revolut from 2017 to 2021 (in Million Gbp)." Statista, Statista Inc., 27 Feb 2023, https://www.statista.com/statistics/1089680/key-financial-figures-for-revolut-bank-united-kingdom/
Revolut, Key financial figures for Revolut from 2017 to 2021 (in million GBP) Statista, https://www.statista.com/statistics/1089680/key-financial-figures-for-revolut-bank-united-kingdom/ (last visited December 06, 2023)
Key financial figures for Revolut from 2017 to 2021 (in million GBP) [Graph], Revolut, February 27, 2023. [Online]. Available: https://www.statista.com/statistics/1089680/key-financial-figures-for-revolut-bank-united-kingdom/