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Revolut hits 20 million users

Digital bank Revolut has just surpassed 20 million retail customers worldwide as the company celebrates its 7th anniversary.

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The company is also now processing more than 250 million transactions a month.

The milestones come as Revolut also recently surpassed 5,000 employees, and says it intends to keep hiring.

“We are still a young business,” said CEO and co-founder Nikolay Storonsky marking the occasion. “But our growth over the last few years shows the increasing demand for our products all over the world.”

Since 2015 Revolut has launched in all 30 countries of the European Economic Area, as well as Australia, Singapore, Switzerland, Japan, the UK and the US.

Vlad Yatsenko, co-founder and CTO, comments: “In just seven years, Revolut has grown exponentially. We are now more than 5,000 strong, with new and long-standing staff helping to deliver for our customers on a daily basis.”

In the UK, Revolut’s home market has the most customers, hitting 4.8 million. It said the average age of customers is 39, with just 11% over 55.

Romania has the second highest number of customers with 2 million, just ahead of Ireland. With 420,000 users in Bucharest, Romania’s capital city has the most Revolut users of any city in the EU, and second most globally after London.

Poland and France make up Revolut’s top five countries by the number of retail customers, with 1.7 million in Poland and 1.5 million in France. Over 50,000 of the accounts in Poland are held by refugees after Revolut offered free dedicated accounts for those fleeing the war in Ukraine.

“When we started Revolut seven years ago, we wanted to give people more control over their financial well-being through the use of our technology, offering a service that addresses all their financial needs in one place,” said Nikolay Storonsky.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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