Revolut posts €1bn revenue as customer deposits surge

Last year saw Revolut post a 71% increase in deposits and a 55% increase in customers on paid plans

Last year also saw the global financial app double employee headcount from around 3,000 to 6,000 as it moved to expand into new regions including Brazil and New Zealand.

Fintech firm Revolut said it is on track to record a double-digit net profit margin by the end of this year following "continued momentum" in the first three quarters of 2023.

Now boasting 35 million users, the neobank posted revenue of $1.1bn (€1bn) in 2022, adding that it expected to hit $2bn (€1.82bn) in 2023.