News Summary

Revolut, Europe’s most valuable startup, has reported a significant increase in profits, surpassing £1 billion due to a cryptocurrency trading boom. The London-based fintech company saw its pre-tax profits more than double from £438 million in 2023 to over £1 billion in 2024. This surge in profits was largely driven by a rise in customer numbers and increased activity in cryptocurrency trading. The company’s annual report highlights that revenues climbed to £3.1 billion, up from £1.8 billion the previous year, with its Wealth division generating £506 million in 2024, nearly quadrupling its previous total. Revolut’s expanding user base, now over 50 million, has contributed to these impressive financial results, marking the strongest year yet for the digital bank.