Digital banking giant Revolut has long served as a model for how far fintech companies can climb. With over 25 million users across the globe and revenue growing by incredible leaps year after year, the $33 billion company remains one of Europe’s most successful fintechs. In its recently released 2021 annual report, the company revealed another milestone: its first-ever annual profit of £26 million.
“It’s difficult to think of a company as well-positioned for success as we are,” wrote Revolut Chair Martin Gilbert in his statement in the report. “Revolut’s adaptability, ambition, innovation, and pace of product roll-out means that we are prepared to do amazing things.”
However, there are still some concerns about Revolut’s long-term prospects. Apart from its ongoing difficulty in securing a U.K. banking license and its reportedly aggressive corporate culture, as-yet unreported financial numbers from 2022 are expected to be less encouraging than 2021 due to the crypto crash of last summer. For now, though, Revolut should celebrate its recent successes.