Revolut made £120K in revenue in 2015. Last year it made £4.5B.
It started as a prepaid card for people tired of losing money on exchange rates abroad. Today it has 68 million retail customers and £1.7B in pre-tax profit.
2015: launched with a free card and the interbank rate
2017: Premium, Business and crypto all launched in the same year
2021: first full-year profit
2023: £1.8B ($2.2B) in revenue and £438M in pre-tax profit
How did it get there? Every year Revolut gave the same customers a new reason to use the app:
Foreign exchange brought them in
Current accounts made them open it every day
Subscriptions, trading and crypto added revenue on top
Local IBANs, deposits and credit turned a travel card into their main bank account
We went through eight years of Revolut's accounts and annual reports. Each chapter below takes one milestone on that curve, from £1M to $2B, and breaks down the products and growth moves that got Revolut there.
📚 By the end, you’ll know how to pick the next product to launch, how to run referrals as a system and when to start paying for growth!
Inside you will find:
Path to £1M: Win the First 300,000 Customers With One Cheaper Exchange Rate See how a free card and the interbank rate pulled in 300,000 users while every one of them lost money.
Path to £10M: Launch Every Paid Product in a Single Year Find out how Premium, Business, euro IBANs and crypto all shipped in 2017, and how crypto access became a referral reward.
Path to £50M: The Free-Card Referral That Tripled Daily Signups Learn why giving a friend a free card beat cash rewards, and how Metal built a 60,000-person waitlist.
Path to £100M: Add Stock Trading and Go From 3.5M to 10M Customers See how trading, Apple Pay and new countries tripled customers while partnerships became a managed channel.
Path to £200M: How Revolut Grew 45% When Travel Stopped Find out how a travel card kept growing through the pandemic with no marketing spend.
Path to £500M: How Crypto Made Revolut Profitable See how FX and Wealth reached 55% of revenue in the first profitable year, and what the auditors flagged.
Path to £1B: How Revolut Replaced the Crypto Revenue It Lost Learn how cards, subscriptions and interest filled the gap when FX and Wealth revenue fell by £79M.
Path to $2B: How Interest Income Grew From £83M to £500M See how deposits, credit and local accounts turned Revolut into its customers’ main bank.
The Revolut Playbook in 5 Moves Take the five moves and apply them to your own roadmap and distribution.
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