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Revolut Group Holdings Ltd, doing business as Revolut, [2] is a British multinational neobank and fintech company that offers banking services for individuals and businesses. [3] The company was founded in July 2015 by British-Russian businessman Nikolay Storonsky and British-Ukrainian software engineer Vlad Yatsenko and operates in 48+ countries.
Revolut made a record profit in 2023, as the UK fintech giant continues its long wait for a British banking licence. The company made a pre-tax profit of £438 million last year, up from a loss of ...
LONDON (Reuters) -Financial technology firm Revolut has received a UK banking licence with some restrictions, it said on Thursday, ending a three-year wait for the authorisation that will enable ...
After years of losses, British banking app Revolut finally turned a corner last year. Its revenues almost doubled to £1.8 billion ($2.27 billion), helping it turn a pre-tax profit of £438 ...
Revolut offers accounts and debit cards for fee-free spending abroad at real exchange rates. [16] In 2021, Revolut became the most valuable fintech firm in the UK. [17] [18] As per the 2023 annual report, Revolut achieved a revenue of 1.8 million GBP, with a net profit of 344 million GBP. As of November 2024, the company serves 50 million ...
Users with a simple phone or without the app can still receive money if the phone number is registered in the internet bank. Like many other mobile payment system, its main obstacle is getting people to register and download the app, but it has managed to reach a critical mass and it has become part of everyday life for many Swedes.
A licence means the company will be able to hold customer deposits, and offer lending products like credit cards, personal loans, or mortgages.
Monzo was one of the earliest of a number of new app-based challenger banks in the UK. [5] Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. [6] As of June 2024, Monzo had over 9.3 million customers. [2]