Revolut: Aiming for Expansion and Profitability in the US
As a leading neobank, Revolut has achieved a significant milestone by marking its fifth consecutive year of net profitability in 2025. This year, Revolut has set its sights on expanding its operations in the US, a move that forms a crucial part of its global expansion strategy. The neobank’s quest to build a global super app is expected to receive a significant boost from a US banking charter, which could potentially propel its retail business in a region where its business segment has already started to gain significant traction.
Revolut has already applied for a national banking charter with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. This move is expected to benefit its small-business segment Revolut Business, which has already registered increased uptake.
Revolut’s Strategy for the US Market
According to Ignacio Zunzunegui, Revolut’s interim head of growth in the US, and head of growth in Europe and LatAm, the US forms a “key pillar” of Revolut’s global expansion. The neobank intends to build a local team and create hundreds of highly skilled American jobs to compete directly with the US banking sector. Currently, Revolut has approximately one million customers and 200 employees in the US. Its strategic plan includes a credit-forward approach, focusing on credit products as it expands its retail offerings for the US-based consumers.
Revolut’s strategy is not to attempt a national presence from day one. Instead, it plans to breakdown its expansion by region and demographics. The neobank also aims to capitalize on its presence in Latin America to capture crossover with the US market and to bank a significant portion of the Latin Americans living in the US. Revolut already holds a banking license in Mexico, and is in the process of securing banking licenses in Colombia and Brazil.
Revolut’s Global Solution
Revolut strongly believes in the future of banking as a global financial solution. The neobank has a significant number of customers from various nationalities even before launching in their respective markets. For instance, Revolut has 100,000 Colombian customers worldwide, although it has not yet launched in Colombia. The neobank’s success can be attributed to its strong brand awareness, and its products which are well-suited to different consumer segments.
Despite its focus on a global solution, Revolut is not limiting itself to serving only Hispanics. Its ambition is to be one of the top three financial entities in every market that it operates. For this, it needs product parity with incumbent banks and fintechs. Revolut Business will continue to be a priority in the US, which has become one of its top five markets in terms of businesses acquired.
Challenges in the US Market
Competing in the US will be a challenge for Revolut due to the market’s size, complexity, and the large number of banks and fintechs vying for consumers’ banking business. However, securing a bank charter will open up a significant new set of options for Revolut, including the ability to accept deposits without the involvement of a partner bank. This could potentially change the economics of Revolut’s business and provide a path to creating a product set that is on par with what it offers in other markets. Revolut is hoping that its recent bank charter in the UK will help expedite its US application.
Revolut’s Financial Performance
Revolut’s revenue increased by 46% year over year to 4.5 billion pounds ($6 billion) in 2025, largely driven by Revolut Business, which contributed 16% of the neobank’s total income. The number of retail customers worldwide grew by 30% year over year to 68.3 million, with customer balances increasing by 66%, indicating that existing customers are spending, saving, and investing more with the company.
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