Revolut: Key Facts and Figures [2022]

Revolut: Key Facts and Figures [2022]

Revolut was launched in 2015, with the aim to be the world’s first truly global financial superapp, and has since grown to offer accounts to 18+ million personal customers, and over 500,000 businesses. Revolut accounts can be opened for free – or you can choose to upgrade to a paid plan to unlock more features. All accounts offer multi-currency functionality with 27+ currencies covered, a linked debit card and a fixed amount of fee free ATM withdrawals which is set according to your account type.

This article looks at Revolut statistics and facts, including:

  • Top Revolut statistics
  • Revolut company stats
  • Revolut funding and investment stats
  • Revolut marketplace stats
  • Revolut service stats
  • Revolut website stats
  • Revolut product stats
  • Revolut business account stats
  • Revolut reviews

Let’s dive right in.

Key Revolut statistics

  • Revolut was founded in the UK 2015 to offer money transfer and exchange – and now describes itself as the world’s first financial super app
  • Today, Revolut has 18 million+ personal customers, 400,000 Junior account holders (feature not available in AU), and 500,000 business accounts
  • Revolut launched in Australia in 2019, and globally customers make 150 million transactions a month
  •  After Revolut’s July 2021 Series E funding round raised $800 million, the business was valued at $33 billion, making it the most highly valued fintech startup in the UK
  • Revolut has 2,200+ employees, and 18+ offices, plus remote work opportunities
  • Revolut customers can open multi-currency accounts to hold and exchange 27+ currencies
  • Revolut customers can invest in 1,000+ global company shares, from the equivalent of just 1 USD
  • Revolut is registered in Australia and holds an Australian Financial Services Licence (AFSL), has a banking licence in the EU, and is in the process of applying for a banking licence in the US, as well as one for the UK

Revolut company stats

  • Founded by Nick Storonsky and Vlad Yatsenko  in 2015 in London, UK (Revolut)[2]
  • Vlad Yatsenko has a background in building financial software systems, and realised that to deliver next generation banking he would need to build a new business entirely (Revolut)
  • Nick Storonsky was an Emerging Markets Equity Derivative Trader with Credit Suisse and Lehman Brothers before founding Revolut (Revolut)
  • Revolut’s current CEO is Nick Storonsky, while Vlad Yatsenko is current CTO (Revolut) [3]
  • Headquartered in London, with 18 offices around the world, Revolut also employs a number of staff globally in remote roles (Revolut)
  • Revolut has 2,200+ employees, and a presence in 35+ countries (Revolut)
  • Revolut launched in Australia in 2019, and is continuing to develop its global portfolio, in 2021 adding options for customers in some regions to book travel directly in the app and withdraw earned pay early (Revolut)
  • Revolut is registered in Australia and holds an Australian Financial Services Licence (AFSL)
  • Revolut has an EU banking licence, based in Lithuania, and is in the process of applying for licences in other countries including the US and UK (Reuters)[5]
  • Nick Storonsky is described as the first UK neobank billionaire (Forbes)[6]

Revolut funding and investment stats

  • Revolut has raised a total of $1.7 billion funding to date (Crunchbase)[7]
  • The most recent Revolut funding round in August 2021 attracted $5.5 million, and was a secondary market round (Crunchbase)
  • Prior to that, in July 2021, Revolut’s Series E funding round raised $800 million, led by SoftBank Vision Fund and Tiger Global Management (Crunchbase)
  • After the Series E funding round, Revolut was valued at $33 billion, making it the most highly valued fintech startup in the UK (Forbes)
  • Revolut has 45 investors including 10 lead investors (Crunchbase)
  • Lead investors include TSG Consumer Partners, SoftBank Vision Fund and Tiger Global Management (Crunchbase)
  • In 2020, Revolut’s revenue was 261 million GBP, in the same year it made a loss of 167 million GBP(Business of apps)[8]

Revolut marketplace stats

  • Research estimates the global digital remittance market to be worth $15.27 billion in 2021, with projected growth to $36.54 billion by 2028 (Facts and Factors Global Remittance Report) [9]
  • 45% of international payments are processed through specialist money transfer services rather than banks (Facts and Factors Global Remittance Report)
  • 25% of the global digital remittance market originates in the US (Facts and Factors Global Remittance Report)

Revolut service stats

  • Revolut has 18 million personal users, 400,000 junior account holders and 500,000 business users – not all account types are available in all markets (Revolut)
  • The average age of a Revolut user is 34, and 60% of customers are male (Business of apps)
  • Revolut has 1.1 million daily active users (Business of apps)
  • Revolut customers process 150 million transactions every month through their accounts (Revolut)
  • Revolut personal accounts are available in the EEA, Australia, Singapore, Switzerland, Japan, the UK and the US (Revolut)[10]
  • Revolut business accounts are available to business registered in and with a physical presence in in the UK, the EEA, Switzerland, and the US (Revolut)[11]

Revolut website stats

  • There are 6.6 million visits to the Revolut website every month (Similarweb)[12]
  • Website visitor top countries are the UK (16%) and the France (9%) (Similarweb)
  • Over 50% of customers using the Revolut desktop site are aged under 35 – the largest group are aged 25 – 34 (35%) (Similarweb)

Revolut product stats

  • Customers can open a free standard Revolut account, Premium Revolut account for $10.99/month or a Metal Revolut account for $24.99/month (Revolut)
  • Spend in 110 currencies with your Revolut debit card (Revolut)
  • Hold and exchange 27+ currencies in your Revolut account (Revolut)
  • Fee free ATM withdrawals to a fixed limit based on your account type – free standard account holders can withdraw up to $350/month fee free (Revolut)
  • Revolut Metal card holders can get cashback on spending – 1% internationally, and 0.1% in Australia (Revolut)
  • Invest in 1,000+ global company shares, from the equivalent of 1 USD (Revolut)

Revolut business account stats

  • Free Revolut business accounts available – with further account plans with varied fees provided by the Revolut team based on customer needs (Revolut)
  • Hold and exchange 27+ currencies in your Revolut business account (Revolut)
  • Spend in 150 currencies with your Revolut business debit card (Revolut)

Revolut reviews

  • Excellent rating on Trustpilot with 4.4 out of 5 stars, with 109,000+ reviews listed (Trustpilot)[13]
  • Apple App store rating of 4.7 out of 5 stars (App store)[14]
  • Google Play rating of 4.5 out of 5 stars (Google Play)[15]

Sources

  1. https://www.revolut.com/en-US
  2. https://www.revolut.com/en-US/about-revolut
  3. https://www.revolut.com/en-US/leadership-and-governance
  4. https://assets.revolut.com/pdf/Revolut%20Ltd%20Annual%20Report%20YE%202020.pdf
  5. https://www.reuters.com/article/us-usa-revolut-bank-idUSKBN2BE1XE
  6. https://www.forbes.com/sites/daviddawkins/2021/07/15/founder-nik-storonskys-net-worth-more-than-quintuples-after-revolut-becomes-uks-most-valuable-fintech/?sh=2f6370f768d5
  7. https://www.crunchbase.com/organization/revolut
  8. https://www.businessofapps.com/data/revolut-statistics/
  9. https://www.globenewswire.com/en/news-release/2022/03/24/2409580/0/en/Global-Demand-of-Digital-Remittance-Market-Size-Share-to-Grow-at-a-CAGR-of-14-6-Expected-to-Hit-USD-36-54-Billion-Mark-by-2028-Industry-Trends-Forecast-Report-by-Facts-Factors.html
  10. https://www.revolut.com/en-US/help/profile-and-plan/verifying-identity/what-countries-are-supported
  11. https://www.revolut.com/en-US/business/help/setting-up-an-account/is-my-business-eligible/where-is-revolut-business-available
  12. https://www.similarweb.com/website/revolut.com/
  13. https://www.trustpilot.com/review/www.revolut.com
  14. https://apps.apple.com/us/app/revolut/id932493382
  15. https://play.google.com/store/apps/details?
By Ileana Ionescu Updated June 15th, 2022