Revolut: strong growth in all segments for the fourth consecutive year of profitability

Revolut has shared its financial results for 2024, recording strong growth in all business segments for the fourth consecutive year of profitability. The financial super app revealed its performance, such as the 15 million new users globally just last year, reaching a total of 52.5 million

Revolut and the strong growth of the financial super app: the 2024 report

Revolut has published its 2024 financial report, highlighting its strong growth in every business segment for the fourth consecutive year of profitability.

Among the highlights of the financial super app’s performance is the record acquisition of new customers. In fact, in 2024 alone, Revolut welcomed nearly 15 million new customers globally, bringing the total to 52.5 million by the end of the year (an increase of 38%).

A fact that does not seem to surprise, given that last November 2024, the platform celebrated its 50 million users globally.

Furthermore, Revolut has become the most downloaded app in the Finance category in as many as 19 countries

Not only that, but client activity has also grown, with the transaction volumes increasing by 52% year-on-year, reaching almost 1.3 trillion dollars

The adoption of paid plans has increased, recording a +45% year-on-year. The new loyalty program, RevPoints, launched in June 2024, then attracted 6.6 million users in just six months

Revolut and the fourth consecutive year of profitability: the numbers

In terms of profitability, then, Revolut has made the recorded numbers known to the general public. And indeed, the Group’s revenue increased by 72%, reaching 4 billion dollars, compared to 2.2 billion dollars in 2023.

Specifically, the growth was strong across all major business segments. For example, card payments grew by 43% year-on-year, the Wealth segment grew by 298%, and the FX segment increased by 58%

The subscriptions generated a total revenue in 2024 of 541 million dollars, an increase of +74% year-on-year compared to the 303 million dollars in 2023

The total customer balances increased by +66% compared to the previous year, and the customer loan portfolio also grew by 86% year-on-year

This led to interest income growing by +58% year-on-year, reaching 1 billion dollars, compared to 621 million dollars in 2023

Revolut has marked the fourth consecutive year of net profitability, with record revenue growth numbers. In fact, the net profit has grown to 1 billion dollars, compared to 428 million dollars in 2023.

Investment trends of Italians in 2024

At the beginning of January 2025, Revolut published a report on the investment trends of Italians for 2024, revealing that the stocks of technology companies prevailed.

Specifically, last year, NVIDIA emerged as the most bought and sold US stock among Italians. The reason could be the investors’ enthusiasm for the advancements in Artificial Intelligence (AI)

In terms of ETF, however, the favorite among Italians was iShares Edge MSCI World Quality Factor ETF (Acc), with a 26% increase in trading volume in 2024

Fusion Fuel Green also ranked as the most bought and sold stock among Italians, first for the European market

In general, Revolut revealed that the investment portfolios of Italians in 2024 were on average composed of 59% in USA and EU stocks, 38% in ETFs, and 4% in bonds