The digital financial services firm Revolut has experienced significant growth in Luxembourg, approaching a major milestone in the small yet high-value market. The company said that it added 25,000 new customers in Luxembourg during 2024, bringing its total customer base to approximately 75,000, representing a market penetration rate of over 11%. This marks a notable achievement for the neobank. Wiktor Stopa, Revolut’s head of growth for Western Europe, told Paperjam that Luxembourg is an important market for the company, noting, “It’s a small market but with high-value customers, and as in all the markets where we operate, we aim to establish ourselves as the number one bank.”

Revolut had already surpassed 60,000 customers in Luxembourg, at the end of June 2024, Antoine Le Nel, chief growth and marketing officer at Revolut, .

Stopa expressed confidence that the company would reach 100,000 customers in Luxembourg by 2025. He also outlined plans to expand Revolut’s product offerings in the country, with a roadmap for Luxembourg through 2025 to be announced soon, further underscoring the company’s commitment to strengthening its position in the market.

On a global scale, Revolut has experienced rapid growth, adding over 15m new customers across 38 markets in 2024. The company has also become the leading finance app in 20 EU countries. Revolut’s business segment has seen strong expansion, with more than 20,000 new businesses joining Revolut Business each month.