Revolut has announced record-breaking financial results for the fiscal year, with net profit soaring by 149% to £1.1 billion.

Revenue climbed 72% to £3.1 billion, driven by a 38% year-on-year increase in customers, bringing the global user base to over 52 million. Transaction volume on the platform surged, rising 52% to nearly £1 trillion.

The company reports that its app is now the most downloaded finance app in Europe. It holds the top spot in 19 European countries and ranks in the top three in 26.

Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut is currently valued at $45 billion by investors.

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