British fintech company Revolut on Tuesday reported record annual pre-tax profits as it ramped up plans to expand into the United States, after being granted a long-awaited full UK banking license earlier this month.
Pre-tax profits rose 57% to £1.7bn ($2.3bn) in 2025, compared with £1.09bn in 2024. Group revenue rose 46% to $6 billion, partly due to the performance of business banking services, which accounted for 16% of total revenue, the company said.
The startup, which reached a valuation of $75 billion in 2025, is one of Europe’s most valuable privately held technology companies. Founded in 2015, Revolut says it operates in 40 markets worldwide.
“We have built a large, profitable, diversified and resilient business that provides the foundation for our next phase of growth,” co-founder and CEO Nick Stronsky said in a statement.
“We are proving that our technology-driven operating model continues to drive rapid expansion and record profitability as we transition into a truly global bank. Ten years into this journey, we are just beginning to show what is possible.”
Total customer balances rose 66% to $67.5 billion, as Revolut’s retail customer base grew 30% to 68.3 million and business customers grew 33% to 767,000.
The neobank says it wants to have 100 million customers by mid-2027.
us push
In early March, Revolut announced that it had secured a full UK banking license following lengthy back-and-forth between the company and the prudential regulator.
This will unlock Revolut’s ability to offer a new range of products, including favorable financing, in a market dominated by traditional banks. Revolut launched full banking operations in Mexico in January.
The company is currently preparing for large-scale global expansion.
Chief Financial Officer Victor Stinga said in a media conference call that once the UK bank is completed, geographic growth beyond Europe will be the company’s “next frontier of focus.”
Revolut applied for a US Banking Charter in March, which, if granted, would be another important regulatory milestone. The charter will allow the company to operate in all 50 states under a single regulatory framework while offering personal loans and credit cards.
