Revolut
London, England, United Kingdom
Industry: FinTech
Region: UK 🇬🇧
Founded: 2015
Expected Valuation: $33 billion
IPO Date: To be Determined
Revolut Ltd.
Key Company Facts
| Founded | 2015 |
| Headquarters | London, England, United Kingdom |
| Sector | Finance |
| Industry | Financial Technology Services |
| Founders | Nikolay Storonsky, Vlad Yatsenko |
| Number of employees | 2000+ |
| IPO Date | N/A |
| Number of investors | Not disclosed |
| Total funding | $2.14 Billion USD |
| Number of account holders | 16 million (as of 2023) |
| Valuation estimate | $33 billion USD |
Company Overview & History
Revolut is a leading financial technology company that provides a range of banking services. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut launched with a vision to build a frictionless platform for managing and moving money around the globe.
Revolut offers a wide range of financial products, including a debit card, currency exchange, peer-to-peer payments, and more. The company has established a strong presence in Europe and has recently expanded to other markets like the US, Australia, and Singapore.
Financial Performance
Revolut’s performance has been impressive, with exponential growth in customer base and revenue. The company has managed to attract a significant number of users due to its innovative and user-friendly platform, coupled with a wide variety of services.
Revenue
| Year | Revenue (USD) |
|---|---|
| 2022 | $1 billion |
| 2021 | $636 million |
| 2020 | $261 million |
| 2019 | $166 million |
| 2018 | $58 million |
| 2017 | $13 million |
| 2016 | $2.3 million |
Business Model
Revolut operates on a freemium model. Basic financial services are free, while premium services are provided at a cost. The services include foreign currency exchange, peer-to-peer payments, cryptocurrency trading, stock trading, and more.
Revolut makes money from interchange fees, subscription fees for premium services, and other fees for added features. The company’s value proposition lies in its ability to offer a wide array of services in one app, providing convenience to its users.
Estimated Valuation
| Year | Estimated Valuation (USD) |
|---|---|
| 2022 | No Data |
| 2021 | $33 billion |
| 2020 | $5.5 billion |
| 2019 | No Data |
| 2018 | $1.7 billion |
| 2017 | $0.54 billion |
Risk Factors
Revolut, like any other fintech company, faces several risks. The regulatory landscape for financial services is complex and varies across countries. Compliance with these regulations is crucial and any lapse could lead to hefty penalties.
The company also faces stiff competition from both traditional banks and other fintech startups. Cybersecurity is another significant risk, given the sensitive financial data that Revolut handles.
Market Opportunity
The digital banking market is expected to grow significantly over the coming years. The demand for digital and convenient banking solutions is on the rise, and Revolut is well-positioned to tap into this demand.
The company’s expansion into other financial services like insurance and trading indicates its ambition to become a one-stop solution for financial needs, which presents a substantial market opportunity.
Competitors
- Monzo
- Starling Bank
- N26
- TransferWise