Revolut challenges Lloyds Bank, NatWest, and Barclays as revenue surges

Revolut, the giant British fintech company, is firing on all cylinders, a trend that may accelerate now that it received a UK banking license last year.

Revolut revenue, profits, and users are soaring 

In a financial statement, the company said that its revenue and profits continued growing in 2025 as more people moved to its platform.

The company’s revenue jumped by 46% last year to $6 billion from the $4 billion it made in the previous year. This revenue was mostly because of Revolut Business, which now accounts for 16% of its business. It added 16 million new customers, bringing its total customers to 63 million.

Most of its revenue came from its card payments, which made $1.3 billion, while its subscriptions, wealth, and forex made over $936 million, $876 million, and $800 million, respectively. The revenue. In a note, Victor Stinga, the CEO said:

“With 11 different product lines now exceeding £100 million in annual revenue, our multi-engine platform provides the structural resilience to navigate any environment.”

Revolut’s business maintained its profitability, with its annual profits before taxes jumping to $2.3 billion, up by 57% YoY, the fifth consecutive year in the green.

The management believes that the company will continue growing in the coming years, helped by its global licensing momentum. It now aims to grow to 100 million customers by mid-2017. Also, it plans to spend about $10 billion in capital expenditure in the next five years.

Revolut also aims to compete further with other companies like Lloyds Bank, NatWest, Standard Chartered, and Barclays. It received a UK banking license last year, which will allow it to compete for deposits with these companies. It already has a license with the European Central Bank (ECB) and Bank of Lithuania.

No plans for IPO for now 

Still, despite the ongoing growth, Revolut has no plans to launch an Initial Public Offering (IPO) for now, a move that will leave its venture capital investors like Softbank, TCV, Coatue, Andreessen Horowitz, and Franklin Templeton waiting for longer.

Data compiled by Forge Global shows that its valuation has jumped to over $75 billion, making it one of the biggest technology companies globally. Its valuation means that it is now considered a bigger company than Lloyds Bank, which has a valuation of $73 billion. It is also bigger than Barclays and NatWest, and is the 14th biggest British company.

It is unclear whether Revolut will consider launching its IPO in the UK or in the United States. Many British companies are considering listing in the US, because of its substantial liquidity. Wise, another British fintech company, has announced plans to shift its primary listing from the UK to the US.