Over the course of the year, the fintech's revenue increased by 95%, from $1.1 billion in 2022 to $2.2 billion in 2023. Additionally, it achieved a record profit before taxes of $545 million, with a net profit of $428 million, resulting in a 19% net profit margin and the company's third consecutive successful year.

CEO Nik Storonsky of Revolut claims that the company's growing client base and "diversified business model" are the main drivers of its "exceptional financial performance."

Revenue diversification, according to the firm, "driven sustainable growth" throughout the year, with "no single product stream or country accounting for more than 30% of total revenue in 2023."

Revolut had notable expansion in all three of its primary income streams: foreign exchange and wealth services saw a 46% increase to $491 million, cards and interchange saw a 59% increase to $605 million, and subscriptions saw a 53% increase to $303 million.

Furthermore, the company states that by the end of December of last year, it had gained 12 million new clients, increasing its total to 38 million. Additionally, Revolut's app is the most downloaded in Europe in the banking category.

The firm states that 70% of new retail customers join organically or through recommendations, attributing its success to "word of mouth." Its user base has increased as a result of the launch of new products in important European countries, including personal loans and IBAN solutions.

According to Storonsky, the company is "poised for exponential growth in 2024 and beyond" and that "bringing the Revolut app to new markets and customers around the world" is in addition to the company's ongoing application for a UK banking license.

After obtaining a banking license from Mexico's National Banking and Securities Commission (CNBV) in April, Revolut plans to launch operations in the country. Additionally, the firm wants to add 40% more workers globally, bringing its total staff to around 11,500 by the end of 2024.

In addition, the corporation has said that it is conceivable to surpass 50 million users by the end of FY24, having already surpassed 45 million in June.