Revolut Revenue Surge Amidst Rapid Growth

Aug 11th, 2020Milestone
  • Revolut's revenues in 2019 soared by 180% to £162.7 million, a significant increase from £58.2 million in 2018.

  • The fintech company's customer base grew by 186% to 10 million users, up from 3.5 million in the previous year.

  • Despite growing operating losses to £107.4 million in 2019, aimed at funding future growth, the company's gross margin improved from 17% to 39% by year-end.

  • Revolut launched numerous services in 2019 including cryptocurrencies, stock trading, and expanded into new markets like the US, Singapore, and Australia.

  • Following the end of the year, Revolut raised $580 million in funding and continued to diversify its product offerings, maintaining growth despite Covid-19 challenges.