Revolut’s pretax profits soared by 149% to £1.1 billion in 2024. This growth was largely driven by increased crypto trading activity and higher interest income, among other factors. The fintech firm’s revenues reached £3.1 billion, marking a significant rise from the previous year.
Revolut, the London-based financial technology company, has reported a striking 149% increase in its pretax profit, hitting £1.1 billion ($1.46 billion) for the last year. The company attributed this impressive growth to a surge in cryptocurrency trading, alongside rising interest income and card transaction fees. With the revenue climbing to £3.1 billion, up from £1.8 billion in 2023, Revolut has clearly benefitted from the growing appetite for crypto investments and enhanced financial services.
The boost in profits comes as Revolut expanded its product offerings within its ‘Wealth’ segment, which now encompasses various trading and crypto services. This diversification appears to have played a significant role in driving their income higher, as customers increasingly turn to fintech for innovative investing solutions. The surge in interest rates has also positively impacted their earnings from loans and other financial products, further solidifying their standing in the market.
