Revolut Delivers Strong Performance in 2021 With Profit of £26.3M

The global financial super app Revolut​ unveiled today that it has achieved its first full year of profit for the year ending 31 December 2021. The fintech has generated £100.3m in adjusted EBITDA and £26.3m in profit, which were contributed to growth in active retail customers and increased revenue across all major product lines.

Revenues for 2021 tripled to £636m from the prior year’s £220m. Operating profit came in at £59.1. Gross margin rose from 2020’s 33% to 70%. Besides, The number of weekly active retail customers increased 50% over the previous year. The company ended 2021 with £7.4bn customer deposit balances, surging 58% on a yearly basis.

Martin Gilbert, Chairman of Revolut, noted: "2021 marked a significant milestone for the company, as it was the first year in which we became profitable. This strong financial performance shows Revolut has efficiently moved from the 'start-up' business that is only focused on growth, to the 'scale-up' looking to grow profitably."

In 2021, Revolut has secured a full banking licence from the European Central Bank. Currently, it still awaits a UK banking licence from the Financial Conduct Authority, which has reportedly been delayed over auditing and compliance concerns.