British multinational neobank
Revolut is a London-headquartered financial super-app serving more than 45 million retail customers and hundreds of thousands of business clients across Europe, the UK, the United States, Asia-Pacific, and Latin America.
Founded by Nik Storonsky and Vlad Yatsenko in 2015, the company began as a multi-currency prepaid card and has since expanded into a full-stack financial platform offering current accounts, cross-border transfers, stock and crypto trading, savings vaults, business banking, and a growing list of credit products.
Revolut operates under a portfolio of regulatory permissions: an e-money licence from the UK Financial Conduct Authority, a specialised bank licence granted by the Bank of Lithuania in 2018 (passported across the European Economic Area), and in 2024 a restricted UK banking licence "with restrictions" from the Prudential Regulation Authority.
The group is organised under Revolut Group Holdings Ltd, with Revolut Ltd as the principal UK operating company. Its 2024 group revenue exceeded $4 billion, making it one of the most financially significant privately held fintechs in Europe.
For anyone studying British corporate structure through the lens of regulated fintech, Revolut is an unusually rich case. The operating entity, Revolut Ltd (Companies House number 08804411), is a private limited company domiciled in England and Wales, sitting beneath the top-level parent Revolut Group Holdings Ltd.
The group structure has evolved as the business raised successive rounds from investors such as SoftBank Vision Fund 2, Tiger Global, Index Ventures, and DST Global; each round has been accompanied by fresh filings at Companies House detailing share classes, articles amendments, and new persons with significant control.
Revolut uses multiple share classes to reconcile founder voting rights with institutional preferences, a pattern increasingly common in UK late-stage private companies but still rarer than in US Delaware structures.
The banking piece is architecturally distinct: Revolut Bank UAB in Lithuania is the group's first full bank and issues deposit-insured accounts across the EEA, while the UK entity has historically operated as an e-money institution until the PRA's 2024 authorisation-with-restrictions began the mobilisation phase toward a full UK bank.
This "two-pillar" licensing approach, one EU bank and one UK bank, is a template other neobanks and crypto-adjacent fintechs now copy.
Revolut's long-rumoured IPO would most likely use a UK plc re-registration or a US-style flip, and the company has publicly discussed listing in New York rather than London, a decision that has reignited UK policy debates about LSE competitiveness, dual-class shares, and the FCA listing regime reforms of 2024.
Revolut's principal UK operating entity, Revolut Ltd, is registered in England and Wales at Companies House under company number 08804411, with its head office in Canary Wharf, London.
Yes. Revolut Bank UAB holds a specialised bank licence from the Bank of Lithuania (granted 2018), and in 2024 the UK PRA granted Revolut a banking licence with restrictions, beginning the mobilisation stage toward a full UK bank.
No. Revolut is still privately held by its founders, employees, and institutional investors including SoftBank Vision Fund 2 and Tiger Global, although a future IPO has been widely reported.
Co-founders Nik Storonsky and Vlad Yatsenko retain substantial stakes alongside venture and growth investors; full persons-with-significant-control disclosures are available on Companies House.
