Revolut hits 20 million users as app toasts seventh anniversary
Financial app Revolut has just surpassed 20 million retail customers worldwide, and is now processing more than 250 million transactions a month.
Both milestones come as Revolut begins to mark its seventh anniversary.
The company’s momentum is also seeing it expand its global workforce, topping 5,000 employees globally. Over the past year, several offices in locations such as New York, Tokyo, Madrid, Barcelona, Paris, Mexico City, Berlin, Budapest and Bucharest have opened, with new centres set to be opened in Mumbai and Bangalore later this year.
In the past twelve months, Revolut has launched a variety of new features including On Demand Pay in the UK, personalised Loans in Ireland, and was named as one of TIME100 Most Influential Companies.
Helped by collaborations with influencers over the past year such as Liam Payne, Anthony Joshua, and Simon Wilson, Revolut’s total social media following has grown to over 1.4 million since it launched in London in 2015.
Revolut’s top five countries by number of retail customers are:
- UK – Revolut’s home market and its biggest with 4.8m customers. The average customers age is 39, with 11% of customers being over 55 years old.
- Romania – Two million customers. 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. One in three Bucharest residents of working age has a Revolut account.
- Ireland – 1.9m customers. A third of the five million population (and half of adults with a smartphone) use Revolut.
- Poland – 1.7m customers. Following the launch of dedicated free accounts for Ukrainian refugees, Poland is home to more than 50,000 refugee accounts (out of a total of over 170,000 in EU).
- France – 1.5m customers. Revolut recently launched local IBANs in France to offer fully compatible accounts in the French market.
“Revolut reaching 20 million customers and 250 million transactions a month is another milestone we’re proud of,” said Nikolay Storonsky, Chief Executive Officer.
“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. We are still a young business, but our growth over the last few years shows the increasing demand for our products all over the world.
“As important as this milestone is, we are still at the start of our journey and intend to keep pushing the boundaries of financial innovation to build the world’s first global financial superapp. This is just the beginning.”
Vlad Yatsenko, Co-founder and CTO, added: “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.
“Today’s announcement, as well as the company’s seventh anniversary, is one to savour and enjoy, but it is also evidence that there is still so much to achieve in this space. We remain focused on developing new and innovative products for our customers, and look forward to celebrating the next milestone in the near future.”