Revolut reports first-ever annual profit

Revolut, a financial technology company, has reported its first-ever annual profit, with revenues of £636.2 million ($767.1 million) for 2021, tripling its previous year's figure. Revolut's CFO, Mikko Salovaara, attributes this success to the company's diversified business and strict cost control. The company expects revenues to grow over 30% to £850 million in 2022. Revolut offers digital banking, money transfers, cryptocurrency, and stock trading through a single app and competes with companies such as Wise, Monzo, and Starling. Read on to learn more about Revolut's success and challenges.