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Revolut, the $45B neobank, posts $1B profit in 2024
Revolut, the $45 billion neobanking startup founded in the U.K., may have put its IPO plans on ice, but its balance sheet is looking pretty hot. The
2024 was a big year for the company – its net profit more than doubled what it earned in 2023($428 million), and it finally secured a banking license in its home market of U.K., which is its biggest. Looking ahead, the company said two of its biggest priorities for 2025 will be to “formally” launch banks in the U.K. and Mexico (on the back of its licenses) as well as to double its customer base to 100 million. That could also help Revolut close the deal on new financing, too, following reports that it might be approaching another share sale at a $60 billion valuation, on top of launching that stablecoin.
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