LONDON–A fintech founded in 2015 is reporting it closed 2024 with profits of more than $1 billion.

Revolut, which has become a super-app offering banking, wealth, credit and subscription services, reported that group revenue rose 72% to $4 billion in 2024, driven by double-digit expansion in every major line, from card payments and foreign exchange.

Its fledgling wealth arm saw revenue leap 298% to $647 million. Profit before tax rose 149% to $1.4 billion, while net profit more than doubled to $ 1 billion, lifting the net margin to 26% from 19% a year earlier, the company reported. 

Reasons for Gains

In a statement, Revolut credited the gains to its rapidly growing customer base. Total users climbed 38% to 52.5 million after the company added nearly 15 million customers—the biggest annual increase in its nine-year history. Transaction volumes approached $1.3 trillion, up 52%, and total customer balances jumped 66% to $38 billion, providing low-cost funding that helped interest income rise 58% to $1.0 billion, according to analysts.

In addition, income from card payments grew 43% to $887 million as spending limits on its higher-tier accounts were raised, the company said. 

‘Just Getting Started’

According to CEO Nik Storonsky, the company is “just getting started.

Storonsky said the goal is to reach 100 million daily users across 100 countries.