Revolut touts $1.4 billion revenue haul, eyes U.S. market

Betty Laura Zapata/Bloomberg

Revolut Ltd. is touting a 46% revenue surge from a year ago as it courts investors for its primary fundraising, which is set to value the fintech at $75 billion.

The fintech notched £1.01 billion ($1.4 billion) in revenue in the second quarter, up from £694 million in the same period in 2024, according to investor documents seen by Bloomberg.

The results show that Revolut has continued to rapidly grow its revenue as it expanded to new markets and amassed more than 60 million customers around the world. In addition to its presence across Europe, the fintech now has operations in Latin America, the Middle East and Asia — with Revolut setting its sights on becoming one of the top three financial apps in every market it enters. 

A spokesperson for Revolut declined to comment.

The firm's revenue growth continued to accelerate in recent months, the documents show. In July, the firm generated £373 million and followed it up with a £410 million haul last month, according to the documents. 

Those results put the firm on track to deliver more than £4.1 billion in annual revenue. That would compare with the £3.1 billion Revolut brought in last year, when the fintech generated record pretax profit of £1.1 billion.

The deadline to express interest in participating in the latest funding round is this week, according to people familiar with the matter. Revolut has code named the funding round "Project Athens" internally, the people said, asking not to be named discussing non-public information. 

Revolut has told investors it may use some of the proceeds from the primary fundraise to acquire a US bank, a move that would help it catapult its growth in the country, one of the people said. 

Revolut is still deciding if it wants to make an acquisition or if it will apply for a banking license of its own, Bloomberg has previously reported.

Revolut has also been publicizing its planned investments in the US as banks on both sides of the Atlantic prepared for President Donald Trump's state visit to Britain. The company announced it will invest more than $500 million in the US in the coming years and it expects to create hundreds of jobs. 

"The United States represents a key pillar of our global growth strategy," Chief Executive Officer Nik Storonsky said in a statement on Saturday. 

Revolut has been in talks with employees about a separate transaction that would allow them to sell their shares in the company in a deal that also values the company at a $75 billion valuation, Bloomberg previously reported. 

The company also offered to repurchase as much as 10% of its shares from eligible investors in a tender offer last month.