Despite its successes, the company has no immediate plans for an IPO, choosing instead to concentrate on growth and global expansion.

This impressive growth was largely fueled by a dramatic rise in crypto trading activity, with the wealth division's revenues skyrocketing by 298% to $647 million.

Overall, the company's revenues grew by 72% year-on-year, reaching $4 billion, driven by increases across all key business segments.

Revolut's revenue surged to £3.1 billion in 2024, a significant increase from £1.8 billion in 2023, as the company welcomed nearly 15 million new users, bringing its total customer base to over 50 million.

Looking ahead, Revolut plans to launch its UK bank later in 2025, expand into Mexico, and enter the Indian market, aiming for a target of 100 million daily active users across 100 countries.

While there has been speculation about a potential public listing, Revolut has not provided updates and remains focused on business expansion and product development.

Revolut has become the most downloaded finance app in Europe, ranking first in 19 countries and in the top three in 26 countries, supported by a workforce of over 10,000 employees.

The company obtained a UK banking license in July 2024 after a lengthy regulatory process, enabling it to expand its lending services, including credit cards and buy-now-pay-later products.

Despite its rapid growth, Revolut faces challenges in converting app users into primary banking customers, which is essential for increasing deposit volumes necessary for future lending operations.

The fintech's loan book expanded by 86%, reaching £979 million, contributing to a 58% increase in interest income, totaling £790 million.

Deposit balances for both retail and business accounts more than doubled during this period, indicating strong customer engagement.

The surge in cryptocurrency prices, particularly Bitcoin, which rose over 120% in 2024, has positively impacted Revolut's performance and revenue.