Revolut Australia hits 1 million customers, records 100 local employees, and saves Australians $250m in FX fees
Six years after launching in Australia, Revolut has surpassed 1 million local customers —matching the scale of locally backed players like Up and Ubank.
Since 2020, the company has recorded saving Australians over $250 millionAUD in foreign exchange fees, compared with what major banks charge.
Over the next five years, Revolut plans to invest almost $400million into its Australian business.
Sydney, Australia- 9 Feb 2026 —Revolut, the global financial app with more than 70 million customers worldwide, today announces that it has surpassed 1 million retail customers in Australia, marking a major milestone in its mission to help Australians take greater control of their money and simplify their everyday financial lives.
Since entering the Australian market in 2020 with a team of just three, Revolut has evolved from a simple digital travel card and currency exchange platform into a complete financial lifestyle app with more than 30 products and services across payments, wealth, budgeting, lending, insurance and rewards. Today, the company has saved Australians $250million AUD in foreign exchange fees when compared with major banks and, with more than 100 employees nationwide, is planning to invest almost $400million into its Australian operations over the next five years.
The evolution of Revolut in Australia
A year after launch, Revolut announced its first move into trading with the launch of crypto for Australian customers; a vertical that would later continue to grow with stock trading and commodities. Revolut also launched Revolut Kids and Teens, a money product driving financial literacy for under 18s.
In 2023, Revolut brought Australian companies its business vertical, Revolut Business, launched its first credit offering and Joint Accounts.
2024 saw the company become the first financial institution in Australia to launch eSIMs, helping customers stay connected overseas, Revolut further innovated its market-leading fraud tools and was the year the company achieved double-digit growth in active customers, record transaction volumes which grew 74% YoY, and rising adoption of Premium and Metal plans. These results underscore Revolut’s position as one of the fastest-growing financial apps in the country.
In 2025, Revolut strengthened its core payments capability enabling Australians to transact with a more complete range of domestic payment features. The fintech also launched its loyalty program ‘RevPoints’ - becoming the first Australian financial institution to enable customers to earn uncapped rewards on everyday debit card spend that can be redeemed for multiple airlines and more.
Already in 2026, Revolut Business has launched Australia’s first 360° in-person, account-to-account and online merchant acquiring platform — enabling Australian businesses to manage their financial operations through Revolut’s one seamless interface.
Since 2022, the company has achieved an average annual customer growth rate of almost 100% - an achievement underpinned by its people and technology. An A+ local team, known for its delivery focus and Never-Settle problem-solving mindset, is supported by a cloud-native, proprietary technology stack that allows Revolut to ship new features in quarters instead of years. Revolut also uses its own tools to run the business, from platforms that help managers support and develop their teams to world-class risk, fraud and AML systems designed and delivered in-house.
Matt Baxby, CEO of Revolut Australia, said: “We’re incredibly proud of everything we’ve achieved in Australia. The fact we’ve saved Australians $250million in FX fees proves our commitment to delivering them the highest value and experience. We’ve come a long way since our launch in 2020, but our mission has stayed the same: to put Australians in complete control of their finances and become their everyday tool to spend, save, borrow and invest. It’s a real privilege to have earned the trust of 1 million local Australians, but it’s just the beginning. We’re excited to continue delivering world-class products and disrupting financial services in the country.”
Charlie Short, Head of Growth at Revolut Australia, said: “1 million customers is not the end goal, it’s the proof point. 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. Starting 2026 as one of the country’s top financial apps, we’ve already built real momentum in the market. This year will see us double down on marketing investment and remain aggressive with product delivery, pushing us into our biggest year yet.”
Today, customers use Revolut more for domestic spend compared to overseas travel - a demonstration of how the app successfully conquers a diverse range of modern money management verticals that are relevant to people's everyday lives.
Protecting customers and meeting the highest regulatory standard remains a key priority and central to the company's growth in Australia. Since day one, customers have been safeguarded by market-leading security tools including 2F biometric authentication, real-time spending alerts which are geo targeted, and market-leading in-app card controls.
Revolut operates under regulation from the Australian Securities and Investments Commission (ASIC), holding an Australian Financial Services Licence (AFSL) from 2020, as well as an Australian Credit Licence.
Revolut, now a certified Great Place to Work in Australia, is just getting started. With aggressive plans to roll out new money management tools, expand its credit and lifestyle offerings, and deepen its local and global partnerships across sport and lifestyle in 2026, the company is accelerating full-pelt towards becoming the number one everyday financial app for Australians.
About Revolut
Revolut is a global fintech, helping people get more from their money. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 70 million customers around the world use dozens of Revolut’s innovative products to make more than half a billion transactions a month. Across our personal and business accounts, we give customers more control over their finances and connect people seamlessly across the world.
