Revolut’s profits exceed 1 billion.

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Revolut has doubled to a profit to £ 1 billion last year, as the most valuable startup in Europe exceeded 50 million customers and used the growth of cryptocurrencies.

In an annual report published on Thursday, Revolution He said the income for taxation increased from £ 438 a year earlier. Revenues have increased to £ 3.1 billion, with £ 1.8 billion.

Revolut record income was backed up by the number of customers, which increased the two largest sources of revenue: the fees he earns from card payments and the interest he earns on the deposit. It states that last year it added nearly 15 million new customers.

Founder and Executive Director Nick Stomonsky stated that “2024 was a landmark year for Revolut” in which the London company provided a bank license in its home market and an estimate of $ 45 billion.

“But we are just starting,” he said, adding that the company is now aiming at 100 million active customers in 100 countries.

Fintech also helped the cry in the crystandli last year. The Revolut’s Wealth business, consisting of shares and digital assets – has brought £ 506 million – almost four times by 2023.

The department lifted Revolut to the first annual profit in 2021, when the retailers were in a hurry to get a piece of crypto. However, next year, the income of the Crypto company decreased.

Although Revolut has attracted millions of customers to its smooth mobile app, Fintech still faces a serious problem to convince them to use it for their main bank account. The collection of critical deposits is the most important part of the company’s plan to unlock the loans and compete with the largest retail banks.

The total number of Revolut clients increased from 18 billion to 30 billion pounds throughout the year. The company-which reported a credit book of 979 million sterling, which includes credit cards and buyers-payments-payments-the UK with restrictions last July.

A license received after a protracted three -year process with the UK regulators was a milestone that will allow Revolut to deploy lending products in the native market. Revolut stated that it is in the testing of mortgage loans.

The company also seeks to expand its toll subscribers. Revenues from payments on premium subscription plans that offer a range of benefits increased by 74 percent a year to £ 423 million. It is also aimed at corporate customers, and its business now offers about 15 percent revenue.