Revolut, a London-based fintech company that offers cryptocurrency trading, has reported a 33% increase in revenue for 2022, reaching $1.03 billion. Despite unfavorable macroeconomic conditions and a decline in the crypto market, Revolut’s revenue climbed due to the company’s expansion plans and its decision to expand its team to 6,000 members.
Revolut has raised $1.7 billion since its inception in 2015, making it one of Britain’s most valuable start-ups. However, the company has no immediate plans to raise additional funds and is self-sustained, according to the CFO. Although Revolut aims to become a publicly listed entity, it is not a priority at present.
Revolut has been expanding its cryptocurrency offerings globally, with the Cyprus Securities and Exchange Commission (CYSEC), the Spanish Central Bank, and the Monetary Authority of Singapore (MAS) granting the company crypto-asset service provider licenses.
Revolut intends to extend its reach to India, Mexico, and Brazil soon and is expected to expand to New Zealand in the coming weeks.
Revolut’s growth and positive financial results are promising, and the company’s expansion plans suggest that it is determined to remain a major player in the fintech industry.
Revolut Reports 33% Revenue Growth
