Revolut surpasses 1 million users in Australia
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The news: Global financial services platform Revolut has signed up more than one million customers in Australia as large fintechs continue to make inroads into the payments market.
The numbers: Marking the milestone since launching in Australia six years ago, the company said it now has more than 100 staff locally and plans to invest a further $400 million into the market over five years.
The platform, which began as an foreign exchange business, estimates it has undercut the bank’s offering by a cumulative $250 million over its life in Australia, claiming it now processes more domestically than internationally.
It marks further progress as large global payments companies take an increasingly large share of payment volumes and services a larger cohort of their customers, claiming it has nearly doubled the size of its customer base every year since 2022.
Unlike rivals such as Wise and Airwallex, however, Revolut has sought to diversify into crypto, shares and commodities trading, business credit, rewards and merchant acquiring.
The cohort has grown enormously over the last decade but as market players continue to scale, concerns have risen in the sector over emerging risks including compliance.
What they said: “Over the past two years, Revolut has scaled rapidly in Australia, with strong growth across customers, payments, FX and engagement, and record usage in 2025,” head of growth Charlie Short said in a statement.
“This year will see us double down on marketing investment and remain aggressive with product delivery, pushing us into our biggest year yet.”
The source: Revolut media release
