UK FinTech Revolut Almost Doubles Revenue To £1.8 Billion — Reports Record Profits

Here's the breakdown of their impressive results:

• Revenues increased nearly +100% to £1.8 billion from £920 million

• Pre-tax profits hit £438m after a £25.4m loss in 2022

• 45 million customers after adding 12m in the previous year

• 70% of customers joined organically

• Net profit margin of 19%

• Interest income 6x'd to £500 from £83m in 2022

• Most downloaded finance app in Europe

Revolut is still waiting for a UK banking license, subject to approval.

They are reportedly seeking a valuation of £32bn in an employee share sale.

To put this into perspective, this puts them among the world's most valuable private companies.