Estimated customer growth of Revolut 2018-2024
Revolut saw a rapidly growing customer base between 2023 and 2024, hitting a milestone of 40 million customers in March 2024. If the bank continues its current trend of new customers, it could see a total of over 47.5 million customers by December 2024. Along with the number of customers, the brand value of Revolut has also increased rapidly in the last few years, reaching 4.74 billion U.S. dollars in 2022.
Customer growth rate
In February 2018, the London-based company Revolut announced that they had hit 1.5 million customers, a figure that had grown to 3 million by November 14th, 2018. Then, in September 2019, Revolut announced that they had hit 8 million customers, which they had more than tripled by November 2022. Between November 2022 and October 2023, within merely 11 months, Revolut increased its customer base by 10 million, reaching the milestone of 35 million customers. Less than half a year later, in March 2024, Revolut's customer base reached 40 million. Revolut also saw improving financial figures in recent years, with its revenue amounting to close to one billion British pounds in 2022.
Funding of online banks
The value of investment deals in fintech banking startups worldwide increased rapidly for several years. It was not even unusual to see the amount of funding doubling year over year. This was the case in 2017, 2019, and 2021. In 2022, however, the value of investment in banking fintechs fell by 63 percent. This was the first time since 2016 that the value of investment deals decreased.
