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    Home » Revolut Eyes $370 Million in Advertising Revenue by 2026
    Crypto

    Revolut Eyes $370 Million in Advertising Revenue by 2026

    Le Nel acknowledged the wealth of user data within Revolut's ecosystem, emphasizing their understanding of user behavior and interests.
    Luis AcostaBy Luis AcostaMay 7, 2024
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    Revolut, the UK fintech giant, is contemplating a significant expansion in its revenue streams by venturing into the digital advertising arena, akin to industry behemoths like Google, Facebook, and Amazon.

    According to a report from the Financial Times, Revolut aims to rake in around £300 million (approximately $370 million) in advertising revenue by the year 2026.

    Antoine Le Nel, Revolut’s Head of Growth, hinted at this potential shift, stating, “We could become a media [business]… a place where you have an audience and data about the audience, and you monetize this.”

    Le Nel acknowledged the wealth of user data within Revolut’s ecosystem, emphasizing their understanding of user behavior and interests.

    Revolut has solidified its position as a challenger bank, offering a suite of financial services ranging from payments and savings to cross-border remittances and cryptocurrency trading.

    Operating under a payments institution license in the UK, Revolut has sought to expand its services, including applying for a banking license in its home country in 2021.

    However, this license is pending approval.

    In the European Union, Revolut operates under a Lithuanian banking license and has recently acquired a banking license in Mexico to tap into the local remittance market.

    Additionally, Revolut has ventured into India, securing approval from the local central bank to provide prepaid cards and wallets in a market with a population of 1.4 billion.

    Revolut’s strategic move towards advertising revenue is underscored by its recruitment of Inam Mahmood, formerly of TikTok UK, to spearhead its media strategy.

    Mahmood now heads a team of 30 individuals dedicated to driving Revolut’s media initiatives.

    The company has already outlined plans to introduce advertising solutions on its app as part of its broader ambition to evolve into a financial ‘super app.’

    With total revenue reaching $1.1 billion in 2022, marking a 45 percent increase from the previous year, Revolut aims even higher for 2023, expecting revenues to potentially double to $2 billion.

    Moreover, Revolut has been diversifying its revenue streams, evident in the launch of its mobile phone e-SIM earlier this year, alongside income from payments, subscriptions, foreign exchange, and its wealth division, encompassing cryptocurrency trading.

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