Revolut's losses tripled in 2019, but its user base nearly did too - Business Insider

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Revolut's losses tripled in 2019, but its user base nearly did too - Business Insider
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Revolut attributed losses to investments in expanding geographic presence and product offerings, which should position it for success in the long term

Despite incurring losses — and facing challenges presented by the coronavirus pandemic — Revolut saw impressive growth across other metrics:

Revolut's users nearly tripled in 2019 to 10 million, up from 3.5 million in 2018. Daily active customers grew 231%, and the number of paying customers grew by 139%, according to Revolut founder and CEO Nik Storonsky. And Revolut's user deposits hit £2.2 billion in 2019, up from £1 billion at the end of 2018, while its revenues grew 180%.

Revolut also reported maintaining that momentum in 2020 despite some pandemic-related challenges — as of the end of July, it has nearly

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