According to a statement issued by the company on Thursday (June 1), it has garnered over 5 million users worldwide since November 2022.
“Revolut is growing at nearly one million customers per month,” said CEO and Co-Founder Nik Storonsky in a news release.
“As we continue to grow and scale at pace, this is a fantastic achievement for the company and reaching 30 million customers is another important milestone we are immensely proud of.”
The company says that eight years after its inception in London, it now has over 6.8 million British customers. The United Kingdom contributed the most to the network’s five million user boost, with 1.2 million Brits joining the site since November.
According to the story, Revolut has been in negotiations with the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom for more than two years about gaining a banking license. That’s much longer than the typical license turnaround time, which is less than a year, according to the Financial Times.
The post also includes comments from two people familiar with the license approval process who stated that Revolut’s licensing application had virtually come to a halt.
While neobanks are becoming increasingly popular, recent research indicates that many clients are apprehensive to switch from traditional banks to neobanks.
