Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko in London. It started as a foreign exchange card that let travelers avoid bank fees on currency conversion. Since then, it’s grown into one of Europe’s most valuable fintech companies, with a valuation of $45 billion as of its 2024 secondary share sale.
The app serves over 40 million personal and business customers across 38 countries. Revolut offers current accounts, debit cards, international money transfers, stock trading, cryptocurrency trading, savings vaults, budgeting tools, and travel insurance — all from a single app. In the UK, it received a full banking license in 2024 after years of operating under an e-money license.
Revolut’s growth has been staggering. Revenue hit $2.2 billion in 2023, and the company turned its first annual profit. It’s been expanding aggressively into new markets, including the US, Japan, India, Brazil, and Mexico. Each market gets a tailored product set based on local regulations and demand.
The company is known for its fast feature releases and data-driven product decisions. It’s also earned a reputation for a demanding work culture, which has drawn both admiration and criticism in the press.
Headquartered in London with major offices in Vilnius, Berlin, and other cities, Revolut employs over 8,000 people. The company has plans for a potential IPO, likely in London, which would be one of the biggest European tech listings in years.
