A few days after media stories, Revolut launched its official numbers. The fintech’s income for 2022 crossed $1.1 billion, 45 % increased than the earlier yr. For 2023, the corporate’s income is anticipated to hit $2 billion with a double-digit web revenue margin.
In keeping with the numbers revealed right this moment (Friday), The London-headquartered firm’s income from playing cards and interchange elevated 105 % final yr to $377 million. Subscription income jumped 48 % to $195 million, whereas the curiosity earnings elevated from $2.1 million in 2021 to $102 million in 2022.
The fintech additional confirmed that it added about 10 million clients final yr, a year-over-year enchancment of 71 %. With this addition, the platform now has greater than 35 million clients globally. It additionally witnessed a 55 % uptick in clients on paid plans.
“2022 was one other nice yr for Revolut, one the place we broke away from the pack of our rivals,” stated Nik Storonsky, Revolut’s CEO. “We strengthened our monetary place, grew our buyer base, launched a number of new merchandise, expanded into new markets, and bolstered our threat, compliance, and governance infrastructure.”
#Revolut achieved income of £923M ($1,171B) within the yr 2022 up by 45% from 2021. Retail clients up by %60 for a similar interval. Deposits, up by 71% to £12.6B, staff + 112% “capital and liquidity nicely over our regulatory necessities”.#BDO, re 2021 accounts- “matter has…
— Max Karpis (@maxkarpis) December 22, 2023
Aiming for Development
Development stays the main target of the corporate. It directed $265, which got here from its extra gross earnings after working bills, in direction of funding on the platform. Out of the overall, over $148 million went in direction of gross sales and advertising and greater than $80 in direction of new merchandise and world enlargement.
It moreover doubled its headcount on the finish of the yr to about 6,000 staff.
In the meantime, the fintech is within the technique of acquiring a banking license within the UK and appointed a UK CEO earlier this yr. Apparently, it can restrict crypto companies for companies within the UK subsequent month whereas increasing the identical in abroad markets.
“Wanting forward, our focus is on continued progress throughout all our markets. We stay dedicated to our ongoing UK banking licence utility along with bringing the Revolut app to new markets and clients world wide,” Storonsky added.
A few days after media stories, Revolut launched its official numbers. The fintech’s income for 2022 crossed $1.1 billion, 45 % increased than the earlier yr. For 2023, the corporate’s income is anticipated to hit $2 billion with a double-digit web revenue margin.
In keeping with the numbers revealed right this moment (Friday), The London-headquartered firm’s income from playing cards and interchange elevated 105 % final yr to $377 million. Subscription income jumped 48 % to $195 million, whereas the curiosity earnings elevated from $2.1 million in 2021 to $102 million in 2022.
The fintech additional confirmed that it added about 10 million clients final yr, a year-over-year enchancment of 71 %. With this addition, the platform now has greater than 35 million clients globally. It additionally witnessed a 55 % uptick in clients on paid plans.
“2022 was one other nice yr for Revolut, one the place we broke away from the pack of our rivals,” stated Nik Storonsky, Revolut’s CEO. “We strengthened our monetary place, grew our buyer base, launched a number of new merchandise, expanded into new markets, and bolstered our threat, compliance, and governance infrastructure.”
#Revolut achieved income of £923M ($1,171B) within the yr 2022 up by 45% from 2021. Retail clients up by %60 for a similar interval. Deposits, up by 71% to £12.6B, staff + 112% “capital and liquidity nicely over our regulatory necessities”.#BDO, re 2021 accounts- “matter has…
— Max Karpis (@maxkarpis) December 22, 2023
Aiming for Development
Development stays the main target of the corporate. It directed $265, which got here from its extra gross earnings after working bills, in direction of funding on the platform. Out of the overall, over $148 million went in direction of gross sales and advertising and greater than $80 in direction of new merchandise and world enlargement.
It moreover doubled its headcount on the finish of the yr to about 6,000 staff.
In the meantime, the fintech is within the technique of acquiring a banking license within the UK and appointed a UK CEO earlier this yr. Apparently, it can restrict crypto companies for companies within the UK subsequent month whereas increasing the identical in abroad markets.
“Wanting forward, our focus is on continued progress throughout all our markets. We stay dedicated to our ongoing UK banking licence utility along with bringing the Revolut app to new markets and clients world wide,” Storonsky added.
