Revolut reports record annual profit as it prepares U.S. expansion

British fintech Revolut has reported a record annual profit and said it is intensifying preparations for expansion into the United States, driven by strengthened results and recent capital-market activity. Company executives signalled that both organic growth and strategic capital maneuvers are underpinning a more assertive U.S. entry.

On the numbers, Revolut showed marked revenue and profitability gains in the latest reported period, while global customer counts rose into the tens of millions. In late 2025 the firm completed secondary share transactions that investors and company statements valued at roughly $75 billion, elevating Revolut into the top tier of Europe’s private tech firms and increasing its financial flexibility for international expansion.

Market reaction has been nuanced: the profit prints bolstered investor confidence and the valuation exercise provided employee liquidity, but analysts note that scale alone does not eliminate structural risks. Competitors and incumbent banks face mounting pressure as Revolut leverages fee income, foreign-exchange flows and newly developed wealth and crypto products to diversify revenue. The move also sharpened focus on capital allocation as Revolut balances growth investments with regulatory requirements.

In broader context, the developments underscore the competitive dynamics in digital banking where obtaining a local banking licence or acquiring a chartered institution can be decisive for product expansion. Revolut has publicly weighed acquiring a U.S. bank in prior months and, more recently, filed for a U.S. national bank charter and named a dedicated U.S. chief executive — steps that would enable deposit-taking, lending and card issuance if regulators approve. These choices reflect a strategic preference for establishing a regulated banking presence rather than relying solely on partnerships.

Looking ahead, market observers say Revolut's trajectory will hinge on regulatory approvals, the economics of attracting U.S. customers, and execution of its product roadmap. If Revolut secures a U.S. charter, it could accelerate scale in North America but will face scrutiny over deposit composition, credit underwriting and compliance controls. Conversely, delays or stricter conditions could temper near-term ambitions while preserving longer-term optionality for an eventual public market move.