London-based digital finance platform Revolut Ltd. swung to its largest annual profit on record in 2025, capping a year in which investors pegged the privately held firm at roughly $75 billion and clearing the way for an aggressive expansion across the Atlantic, the company said Monday.
Revolut reported net income of $650 million for the 12 months ended Dec. 31, compared with a $25 million loss a year earlier, according to an earnings statement reviewed by CNBC. Revenue jumped 45 percent to $3.8 billion, lifted by fee income from foreign-exchange, stock and crypto trading as well as a fast-growing credit business.
The results cement Revolut’s status as one of Europe’s most valuable private technology companies at a time when venture funding has tightened. “Hitting profitability at this scale gives us the firepower to compete head-to-head with incumbent U.S. banks,” a senior company official said on condition of anonymity because the figures are unaudited.
Founded in 2015, Revolut offers app-based current accounts, commission-free stock and crypto trades, and prepaid cards to more than 40 million customers worldwide. The company already holds a European banking license and in January began the formal process of seeking a U.S. charter from the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, people familiar with the matter told SourceRated.
Analysts say securing full U.S. banking approval could take 18-24 months. “Regulators will scrutinize Revolut’s compliance culture and crypto exposure,” said Olivia Grant, fintech analyst at Keefe, Bruyette & Woods. “But the profitability milestone strengthens its case.”
In parallel, Revolut plans to relaunch its stock-trading product for American users in the second half of 2026 and to open a New York engineering hub that could employ 300 people, according to an internal memo seen by SourceRated.
Looking ahead, industry watchers expect Revolut to revive long-delayed initial public offering plans if global equity markets stabilize. For now, executives are betting that a proven profit engine—and a foothold in the world’s largest retail-banking market—will keep its valuation aloft.