Revolut passes 25 million customers, plans growth in new countries

Challenger bank Revolut has substantially grown its client base in recent months, during a time when many neobanks faced headwinds.

London-based Revolut says it now has more than 25 million retail customers, marking a 25% growth since July. It plans to continue expanding by adding products and entering new geographies in coming months.

The fintech offers a diverse array of services. The company offers not only remittances, checking and savings accounts (through partner banks), but cryptocurrency trading, investing and the ability to use airport lounges when a flight is delayed, among other things.

Revolut app Photographer: Rafael Henrique/SOPA Images/LightRocket/Getty Images

Rafael Henrique/Photographer: Rafael Henrique/SO

Emil Urmanshin, Revolut Crypto general manager, said in a Thursday email that Revolut has seen a 100% increase in the number of customers trading crypto on its platform year-over-year.

Revolut customers initiate more than 330 million transactions each month.

We continue to expand access to Revolut's fast, secure, and easy money transfers to countries around the world, said Chief Technology Officer Vlad Yatsenko in an email to American Banker. Revolut is redefining how to send and receive money by simplifying the process of international transfers, offering competitive fees, and always providing the best possible exchange rate.