Revolut rises to become Europe’s $115 bn bank
AgenciesRevolut has risen to become Europe’s most valuable startup and a challenge to centuries-old banking giants, having grown rapidly since it was launched just over a decade ag...
Revolut has risen to become Europe's most valuable startup and a challenge to centuries-old banking giants, having grown rapidly since its launch over a decade ago. Despite this, it faces hurdles, including a small lending business and a fraction of revenue per customer compared to established competitors. CEO Nik Storonsky aims for a truly global presence, expanding into markets from Mexico to Australia.
The company has secured new licenses and aims to become one of only a few banks with retail operations worldwide. Valued at $115 billion privately, Revolut is now worth more than Britain's Barclays and France's Societe Generale. Its 2025 pretax profit was £1.7 billion, a fraction of Barclays' £9 billion, but growing fast. While it has attracted customers with its easy-to-use app, few use it as a primary bank account.
The company has faced setbacks, including fines and data breaches, but remains a significant threat to traditional banks.
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