← State of Embedded Finance 2026

Revolut

Can a neobank that started as a multi-currency travel card become the world's first truly global financial super app — replacing retail banking, investment, insurance, and crypto infrastructure for 100M+ customers across every major market?

Founded2015
HQLondon, United Kingdom
FoundersNikolay Storonsky, Vlad Yatsenko
Total raised~$1.7B+ (primary rounds)
Latest roundSecondary share sale, 2025
Valuation$75B (2025 secondary)
IndustryFintech / Neobank
The story

Founded in 2015 as a prepaid multi-currency travel card, Revolut rapidly evolved into a full-service neobank by layering in crypto, stock trading, insurance, and business accounts. After years operating under an e-money institution licence in the EU and a UK EMI licence, Revolut obtained a full UK banking licence in 2024, transitioning from a tech-led payments app to a regulated bank. The company's current strategy is to become the world's first truly global financial super app, offering retail banking, SME banking, investment services, insurance, and crypto under one platform across 100+ countries.

Last 12 months
2025-01
2025-03
2026-03
2026-05
Product timeline
2015
Revolut founded by Nikolay Storonsky and Vlad Yatsenko as a prepaid multi-currency card and app for FX-efficient international spending.· pivot
2016
Raised Series A led by Balderton Capital; launched in multiple European markets with prepaid Visa cards.· banking
2018
Obtained European Banking Authority e-money institution license via Bank of Lithuania; began European expansion with regulated payment services.· banking
2019
Raised $500M Series D at $5.5B valuation; launched crypto trading, stock trading (Revolut Trading), and business accounts.· banking
2020
Partnered with Qover to embed insurance across Plus, Premium, Metal plans in 30+ European countries.· banking
2021
Received UK banking licence in principle from the PRA; launched Revolut <18 for teens.· banking
2024
Received full UK banking licence; launched Revolut Bank UK Ltd, offering FSCS-protected deposit accounts; revenue climbed 72% to $4B.· banking
2025
Secondary share sale at $75B valuation; surpassed 65 million customers across 100 countries; launched Revolut X crypto exchange and Revolut Ramp.· banking
Regulated entities
EMI (Electronic Money Institution)
UK FCA
Revolut Ltd
Insurance Distribution
UK FCA
Revolut Travel Ltd
Investment Services
UK FCA
Revolut Trading Ltd
National Bank Charter / Banking License
UK PRA/FCA
Revolut Bank UK Ltd
Broker-dealer
US
Revolut Securities Inc.
Investment Advisory
US
Revolut Wealth Inc.
The stack
Payments / PSP
Revolut Payments (self-operated)Revolut Pay (self-operated)
Banking / BaaS
Revolut Bank UK Ltd (in-house)
Card issuing
Revolut (self-issued)
Lending
Revolut Business lending (SME, merchant cash advance based on payment data)Personal loans (select markets)
Open banking
Tink
KYC
FourthlineJumio
FX & payouts
Currencycloud
Accounting
XeroVisma eAccountingQuickBooks
Accounting gap: minor