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Revolut’s 2024 Success Story: Record Profits and Global Expansion

by News Editor

April 24, 2025

Revolut Group has unveiled its Annual Report for 2024, marking a year of impressive growth and global impact. With a remarkable €1.3 billion profit, Revolut continues its successful streak of financial achievements.

An Unprecedented Year for Revolut

Nik Storonsky, CEO of Revolut, described 2024 as transformational, with an eye-catching customer growth of around 15 million worldwide. This remarkable increase was accompanied by a deeper customer engagement, spanning a variety of services, both retail and business-focused.

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Financial Performance Highlights

Revolut’s revenue grew by 72%, totaling $4.0 billion (€3.7 billion). Noteworthy contributions came from:

Card Payments which ascended by 43% to €820 million,
Wealth management revenues skyrocketed by 298% to €598 million,
Foreign exchange operations increased by 58% to €499 million.

Revolut’s gratifying profit before tax was €1.3 billion, and the net profit amplified to €934 million, showcasing their strategic excellence.

Expansion Marks & Customer Dynamics

The year witnessed the addition of 15 million new users, pushing Revolut’s customer base to 52.5 million. New milestones in customer engagement included:

A 52% rise in transaction volumes, nearing €1.2 trillion,
Retail activity surged with monthly active users growing by 42%,
B2B banking showed notable progress, becoming a strong contender in the European market.

Investments and Innovations

Revolut’s 2024 efforts to enhance customer experience featured new products like Revolut Invest, rolling out robust lending solutions, and expanding essential services like Savings & Wealth enhancements. The introduction of Revolut X also marked a pivotal moment in the crypto space.

2025 and Beyond

Looking ahead, Revolut is planning ambitious bank launches, such as in Mexico and the UK, alongside evolving global market entries. With innovative offerings and a focus on customer-first strategies, they are setting their sights on achieving 100 million daily active users.

The full 2024 Annual Report is available at revolut.com/financial-statements.

The Future Forbes Realty Global Properties

Municorn Rockets To The Top Of Deloitte’s Fast 50 Tech Rankings In Cyprus

by News Editor

April 24, 2025

Emerging from Cyprus, Municorn has secured the pinnacle position in Deloitte’s Technology Fast 50 Middle East and Cyprus rankings. With a jaw-dropping revenue growth of 20,164% over four years, Municorn’s success showcases Cyprus’s growing influence in the tech and innovation realm.

The fourth edition of the Fast 50 programme recorded an astonishing record of over 200 applications from the region, demonstrating a maturing start-up ecosystem.

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The roster recognizes firms for four-year revenue growth, spotlighting tech leaders catalyzing industry transformation. This year’s list displayed an average growth of 8,823%, with 29 companies achieving growth rates exceeding 1,000%.

Sector Dominance: Fintech and Software

Reflecting sector trends, fintech and software led the way with 22% and 31% representation, respectively. Cyprus joined Saudi Arabia and the UAE in driving regional tech growth, accounting for 16% of ranked companies.

In particular, Deloitte’s Fast 50 programme Leader, Kyriacos Charalambides, lauded the companies for using transformative tech to resolve global issues. “These entrepreneurs are pioneering industry-shifting innovations,” he remarked.

Diversity in Leadership

This year, women-led ventures increased to 18% from last year’s 15%, as Deloitte spotlighted thriving female-fronted companies. Newly introduced categories like Kiyadat celebrate local talent, highlighting trends in the tech sector.

The ESG-focused Impact category evaluated nominees on real-world impact and excellence, reflecting a commitment to sustainable practices.

With Fast 50 Connect events planned, winners can expect to network with investors, fostering further growth opportunities in May.

Stelios Kyriakides, Partner at Deloitte Cyprus, emphasized the region’s evolving fintech landscape, where tech is reshaping financial services, setting new standards.

Strategic Importance of Cyprus

This recognition not only spotlights rapid growth but also reinforces Cyprus’s strategic role in pushing the Middle East towards a tech-fueled future.