Revolut races past 25m retail customers

Digital Banking

The fintech on its way to superapp has added another five million retail customers since July.

Image source: Revolut.

 

Just four months after hitting 20 million users, Revolut has added another five million to its growing customer base.

The fintech, fast on its way to super app status, has hit 25 million retail customers in just over seven years.

It has come a long way since its origins as a money transfer company, now with dozens of products on both the personal and business side of the company.  

“Our mission is to unlock the power of a borderless economy, for everyone, by bringing the world’s first financial super app to all corners of the globe,” Revolut head of international expansion André Silva said.

“This year we have made important steps in achieving this, building our teams on the ground in India, Mexico and Brazil.”

Over the past year, Revolut has readied itself to launch a streamlined version of the app across Latin America, South East Asia and the Middle East labelled ‘Revolut Lite’, and has expanded further across the US, reaching more than half a million retail users.

Revolut also said it is set to launch in New Zealand, Brazil and India “in the next few months” 

But the UK still leads the way with the most customers by far at almost six million – more than one million of which have joined since July this year.

Globally, Revolut customers are now making more than 330 million transactions every month.

Revolut Business, which launched in 2017, has also grown substantially over the last year, with more than 2,000 new active businesses now joining every week.

“Revolut’s growth continues at pace. We have continued to build out our unique product offering across the globe, expanding into new markets with new customers,” co-founder and CEO Nikolay Storonsky said.

“We can’t wait to bring our product to many more in the weeks and months ahead.”