Revolut reports record 2025 profit as it gears up for U.S. push

British fintech Revolut reported a record annual pre-tax profit on Tuesday, accelerating plans to expand into the US following the granting of its long-awaited UK banking license earlier this month.

Profit before tax rose 57% to £1.7bn ($2.3bn) in 2025, compared to £1.09bn in 2024. Group revenue rose 46% to $6 billion; The company said this was due in part to the performance of its business banking services, which accounted for 16% of total revenue.

The startup, which reached a valuation of $75 billion in 2025, is one of the most valuable private technology companies in Europe.

“We have built a profitable, diversified, resilient business at scale that lays the foundation for our next phase of growth,” Co-Founder and CEO Nik Storonsky said in a statement.

“As we transform into a truly global bank, we are proving that our technology-driven operating model continues to drive rapid expansion and record profitability. Ten years into this journey, we have only begun to show what is possible.”

Revolut’s retail customer base increased 30% to 68.3 million and business customers increased 33% to 767,000, while total customer balances increased 66% to $67.5 billion.

In early March, Revolut announced it had received a full UK banking licence, following protracted wrangling between the company and the Prudential Regulation Authority.

This unlocks Revolut’s ability to offer a new range of products in the country, including lucrative loans, a market dominated by traditional banks. Revolut also began full banking operations in Mexico in January.

The company is now preparing for a major global expansion.

Chief Financial Officer Victor Stinga said in a conference call with the media that geographic growth beyond Europe will be the company’s “next focus” after completing the establishment of a bank in the UK.