Nuked 
Hey there, tech lovers! Today, I’ve got some exciting news about Revolut that’ll make your digital wallets giggle with joy.
Revolut, a UK-based neobank valued at a hefty $45 billion, has shown impressive growth in 2024. Despite putting its IPO plans on hold, the company’s financial health looks strong and shiny. It reported a net profit of $1 billion, or roughly 790 million pounds, making 2024 its fourth consecutive profitable year.
This year, Revolut’s customer count surged by 38%, reaching 52.5 million users globally. Revenue also shot up by 72%, hitting $4 billion. The year was truly a milestone for the company, especially since its earnings more than doubled compared to 2023, showing that Revolut isn’t just playing around.
In addition to profits, Revolut snagged a UK banking license, cementing its presence in its home turf. It also went on a valuation rollercoaster, climbing to $45 billion after a big share sale. The company didn’t stop there – it launched Revolut X, a cutting-edge crypto trading platform, hinting at a future where stablecoins might join the party.
Revolut’s new crypto exchange is making noise, especially as part of its Wealth segment, which saw revenue grow by nearly 300% to $647 million. Its wealth offerings, including savings products, ranked second after its card payments business, which earned 887 million dollars last year, up 43%.CEO Nik Storonsky called 2024 a year of landmark achievements, highlighting the growth in customers and service usage.
Looking ahead, Revolut’s big plans include launching banking services in the UK and Mexico, as well as doubling their customer base to 100 million. Despite some legal squabbles and market entry challenges, especially in the U.S., the company is optimistic about its future. The potential for a new funding round or even a public debut remains on the table, though no official plans have been announced yet.
With fresh products and an expanding global footprint, Revolut seems set to keep shaking up the fintech world — and I can’t wait to see what’s next!
