Revolut Ltd.

Who owns Revolut?
Revolut is privately owned by co-founders Nikolay Storonsky and Vlad Yatsenko, along with investors including SoftBank Vision Fund 2, Tiger Global Management, Index Ventures, Balderton Capital, and DST Global. The company was valued at $115 billion in a July 2026 secondary share sale, making it Europe's most valuable private company.

Who founded Revolut?
Revolut was founded in July 2015 in London by Nikolay Storonsky (former trader at Credit Suisse and Lehman Brothers) and Vlad Yatsenko (former software engineer at Deutsche Bank and Credit Suisse). Storonsky serves as CEO and Yatsenko as CTO.

How many customers does Revolut have?
As of 2026, Revolut has more than 50 million customers globally, making it one of the world's largest digital banking platforms. The company operates in over 40 countries.

Is Revolut a bank?
Revolut received its UK banking license in July 2024, allowing it to offer full banking services including deposit protection in the UK. The company also holds a banking license in Lithuania, which serves as its EU banking hub. In markets where Revolut does not hold a banking license, it operates as an e-money institution. The company is applying for a US banking charter to expand its American operations.

Is Revolut publicly traded?
No, Revolut is privately held and not listed on any stock exchange. The company has discussed a potential IPO but had not listed publicly as of August 2026. The July 2026 secondary share sale at a $115 billion valuation was a secondary transaction, not an IPO.

Where is Revolut headquartered?
Revolut is headquartered in London, United Kingdom. The company also has significant operations in Lithuania (its EU banking hub), Ireland, Poland, the United States, and other countries.

What is Revolut's revenue?
For fiscal year 2025, Revolut reported revenue of GBP 4.5 billion ($6 billion), up 46% from 2024. Pre-tax profit was GBP 1.7 billion ($2.3 billion), up 57% from 2024. The growth was driven primarily by interest income, subscription fees, and an expanding customer base.

What are Revolut's largest or most valuable products?
Revolut Personal, the consumer banking app, is the company's largest product by revenue and customer count. Revolut Business, serving SMEs, is a growing contributor. Cryptocurrency trading and stock trading are significant revenue streams, though they are more volatile than banking revenue. The RevPoints loyalty program and Revolut <18 youth banking are newer products aimed at increasing customer engagement.

Has Revolut made major acquisitions recently?
Revolut has focused primarily on organic growth rather than acquisitions. The company has invested in building its compliance infrastructure, expanding its product offerings internally, and growing its global footprint. The most significant recent strategic moves were obtaining the UK banking license in 2024 and the secondary share sale in July 2026.

Revolut was founded in July 2015 in London by Nikolay Storonsky and Vlad Yatsenko. The company launched with a prepaid card and mobile app that offered currency exchange at interbank rates, targeting frequent travelers frustrated by high bank fees for currency conversion. The product resonated with consumers, and Revolut reached one million customers by 2017 through word-of-mouth growth.

The company raised successive funding rounds at increasing valuations. Early investors included Index Ventures and Balderton Capital. In 2018, Revolut raised $250 million at a $1.7 billion valuation, led by DST Global. The company raised $800 million in July 2021 at a valuation of $33 billion, one of the largest fintech funding rounds in European history, with participation from SoftBank Vision Fund 2, Tiger Global Management, and others.

Revolut obtained an e-money license from the UK Financial Conduct Authority in 2017, then a specialized banking license in Lithuania in 2018, which served as its EU banking hub. The company expanded its product offering to include cryptocurrency trading (2017), stock trading (2019), savings vaults, and insurance. Revolut launched in the United States (2020), Australia (2020), Singapore, Japan, and other markets.

The UK banking license was a critical milestone. Revolut applied for a UK banking license in 2021, but the application took approximately three years due to regulatory concerns about the company's compliance culture and governance. The license was granted in July 2024, enabling Revolut to offer full banking services with deposit protection in its home market. The company began migrating UK customers from its e-money license to its banking license in 2025.

For fiscal year 2024, Revolut reported revenue of approximately $3.3 billion and pre-tax profit of approximately $1.1 billion, demonstrating that the company had achieved sustainable profitability. In 2025, revenue and profit grew sharply, reaching $6 billion and $2.3 billion respectively.

In July 2026, Revolut completed a secondary share sale at a $115 billion valuation. The sale was driven by strong 2025 financial results, the UK banking license, and the company's global expansion. The valuation made Revolut more valuable than several major European banks, including HSBC's market capitalization at the time.

Revolut's UK banking license application took approximately three years, with regulators reportedly concerned about the company's compliance culture, governance, and anti-money laundering controls. The Financial Conduct Authority and Prudential Regulation Authority granted the license in July 2024 with conditions, including requirements for ongoing compliance improvements. The prolonged process attracted significant media attention and raised questions about whether Revolut's rapid growth had outpaced its compliance infrastructure.

The company has faced criticism regarding anti-money laundering compliance. In 2022, Revolut's Lithuanian banking entity was audited by the European Central Bank, which identified deficiencies in the bank's AML controls. Revolut has since invested significantly in compliance infrastructure, growing its compliance team to over 1,000 employees and implementing enhanced transaction monitoring systems.

Nikolay Storonsky's Russian background generated scrutiny following Russia's invasion of Ukraine in February 2022. Storonsky publicly condemned the invasion and Revolut blocked Russian and Belarusian accounts in compliance with sanctions. The company also suspended operations in Russia. However, some critics questioned whether Storonsky's Russian origins created regulatory or reputational risks.

Revolut has faced customer complaints regarding account freezes and closures, particularly when automated fraud detection systems flag legitimate transactions. The company has acknowledged the issue and stated that it is working to improve its fraud detection algorithms to reduce false positives.

In 2025, Revolut faced scrutiny from European regulators over its cryptocurrency operations, particularly regarding compliance with the Markets in Crypto-Assets (MiCA) regulation that took effect in the EU in December 2024. The company has adapted its crypto offerings to comply with MiCA requirements.

The company's $115 billion valuation in July 2026 drew both praise and skepticism. Some analysts questioned whether the valuation was justified given that Revolut is still smaller than major European banks by assets and deposits, while others pointed to the company's growth rate and profitability as supporting the valuation.