The British neobank doubles its net profit, adds 15 million new customers, and demonstrates that digital banking at scale can be highly profitable.
By the RateX42 Editorial Team · March 2026 · ~4 min read
The Numbers at a Glance
| Metric | 2024 | Growth |
|---|---|---|
| Total Revenue | €3.7 bn | +72% |
| Pre-tax Profit | €1.3 bn | +149% |
| Net Profit | €934 mn | +106% |
| Customers | 52.5 mn | +38% |
Four consecutive profitable years — that is the headline Revolut delivered with its 2024 annual results.
Net profit reached €934 million, more than doubling year-on-year. Revenue increased by 72% to €3.7 billion, while net margins improved from 19% to 26%.
For a company that was burning cash just a few years ago, this represents a significant structural turnaround.
CEO and founder Nik Storonsky described 2024 as a “landmark year” — a statement supported by the data.
Revolut is no longer just growing quickly. It is growing profitably and at scale.
Wealth & Investing: The Growth Engine
The fastest-growing segment was wealth and investment, including stock trading, ETFs, and crypto.
Revenue in this segment nearly quadrupled, increasing by approximately 300% to around $647 million.
This segment now represents a meaningful share of total revenue and highlights a strategic shift:
Revolut is evolving from a payments-focused app into a full-service financial platform.
Customer deposits grew by 66% to $38 billion, indicating that users increasingly treat Revolut as a primary banking relationship rather than a secondary account.
Revenue Breakdown by Segment
| Segment | Revenue 2024 | Growth |
|---|---|---|
| Cards & Interchange | $887 mn | +43% |
| Wealth & Trading | $647 mn | +298% |
| Subscriptions | $541 mn | +74% |
| FX & Currency | $540 mn | +58% |
| Business Clients | $592 mn | +56% |
| Interest Income | ~$1.0 bn | +58% |
Scale Is the Moat
What stands out in Revolut’s 2024 performance is not only growth, but the efficiency of that growth.
More than 65% of new retail customers were acquired through referrals or organic channels, reducing reliance on paid marketing.
The RevPoints loyalty program, launched in June 2024, has already attracted 6.6 million users. Paid subscriptions increased by 45%.
The underlying economics are clear:
Revolut had approximately 27 million customers in 2021. That number has nearly doubled, while the core infrastructure remains largely unchanged.
Each additional customer reduces marginal servicing cost, while incremental revenue increasingly contributes to profitability.
What’s Next: India, Mexico, and the US
Revolut’s expansion strategy remains aggressive.
The roadmap for 2025 and 2026 includes:
- A formal UK banking launch
- Market entries into India and Mexico
- Continued expansion in the United States
The long-term objective is clear: 100 million daily active users across 100 countries.
In 2024 alone, Revolut added an average of 1.25 million new customers per month.
At that pace, the target appears less aspirational and more execution-driven.
