VS Series
Revolut v Monzo
Two app banks that grew up side by side, and one question: which turned customers into profit?
Revolut leads on all five measures that matter most: turnover, pre-tax profit, profit margin, growth and net assets. Revolut is the biggest by turnover at £4,516m, against £1,724m at Monzo. Revolut keeps more of every £100 it takes, £37.94 as pre-tax profit.
The year ends are close enough to compare like for like. Revolut files group accounts that include subsidiaries; Monzo files for a single company, which flatters the group on size.
Accounts compared: Revolut to Dec 2025 · Monzo to Mar 2026
Who they are
Revolut
Revolut Group Holdings Ltd · 12743269Revolut is a financial technology group whose app offers accounts, cards, money transfers, currency exchange, savings, and share and crypto trading to personal and business customers.In brief: fintech app · accounts, cards and currency exchange · around 70 million customers worldwide · group parent, worldwide figuresFull profile →Monzo
Monzo Bank Limited · 09446231Monzo is a UK bank that runs entirely through a smartphone app, offering current accounts, savings, loans and business accounts.In brief: app-only bank · personal and business accounts · no branches · subscription plansFull profile →The Numbers
The leader on each measure is marked. Movements are against each company's own prior year. Pre-tax profit is filed except where marked (est.). This profile shows Revolut Group Holdings, the parent of Revolut's companies worldwide, not only its UK business. Its revenue of £4,515.8m is £3,429.2m of fees (card payments £1,003.9m, subscriptions £708.5m, wealth £663.5m, foreign exchange £605.8m, rewards programmes and other £447.6m), £974.2m of interest income and £112.4m of other income; £840.2m of the fees came from UK customers (group accounts to 31 December 2025, pp. 96 and 122). For a bank, the turnover shown here is gross income: interest received plus fees and other income, before the interest it pays out to savers and lenders. Monzo's accounts call this Total Revenue, £1,724m; after £387m of interest paid out, fees paid and credit losses, its gross profit was £1,014m (accounts to 31 March 2026, p. 123).
Category winners
The Takeaway
- Revolut converts the most of its turnover. Of every £100, £37.94 reaches pre-tax profit, against £7.67 at Monzo.
- Revolut is the largest on the top line, £4,516m of turnover, 2.6x Monzo's £1,724m.
- Revolut is growing fastest, turnover +46.1% on its own prior year.
- Revolut is the biggest employer with 10,909 people; Monzo pays the most per head, an average staff cost of about £88,000.
- Revolut has the largest balance sheet, net assets of £4,894m.
Who keeps the most of every £100 of sales?
Revolut keeps the most: £37.94 of every £100 of turnover becomes pre-tax profit. Monzo keeps the least, £7.67.
Every profit figure here is the one the company filed.
The chart splits each company's turnover into £100: what goes on people, on interest and on everything else, and what is left as profit.
Out of every £100 of turnover
Each column is £100 of that company's own turnover, so companies of any size compare on one scale; the figures are pounds out of each £100, not millions. Companies run from the best margin to the worst. Payroll is staff costs, other running costs are everything else, and profit is pre-tax profit, filed or estimated as marked in the table. A loss is not an extra cost: it is the part of the costs that runs past the £100 line, marked with a red bracket. Hover over any segment for its figure.
Who is the biggest, and does the comparison hold?
By turnover the order is Revolut (£4,516m), Monzo (£1,724m).
By headcount, Revolut leads with 10,909 employees.
The accounting periods all end within 3 months of each other. The bases differ: group accounts include the businesses a company owns, single-company accounts do not.
Turnover on the latest filing
Who is growing fastest?
Revolut grew fastest, turnover +46.1% on its own prior year, ahead of Monzo (+39.2%).
Turnover change on each company's own prior year
Who employs the most, who pays the most, and who brings in the most per head?
Revolut employs the most, 10,909 people, against 4,591 at Monzo.
Monzo has the highest average staff cost, about £88,000 a head; Revolut the lowest, about £85,000.
Revolut brings in the most turnover per employee, about £414,000, against £376,000 at Monzo. It says as much about the business model as the workforce: a marketplace or a wholesaler needs far fewer people per pound than a restaurant or a gym.
Who owns each one?
Ownership as recorded on the Companies House register of people with significant control, in the bands the register uses.
Held by Mr Nikolay Storonskiy
An individual recorded as a person with significant control.
Who owns Revolut →
Monzo Bank Limited · 09446231Held by Monzo Bank Holding Group Limited
A company recorded as a person with significant control in the 75% to 100% band. 2 outstanding charges on the register.
Who owns Monzo →
What does the full ledger show?
| Measure | Revolut | Monzo |
|---|---|---|
| Registered name | REVOLUT GROUP HOLDINGS LTD | MONZO BANK LIMITED |
| Company number | 12743269 | 09446231 |
| Incorporated | 2020 | 2015 |
| Accounts filed | 3 April 2026 | 27 August 2026 |
| Turnover, prior year | £3,090m | £1,239m |
| Pre-tax profit, prior year | £1,089m | £52m |
| Staff costs | £922m | £402m |
| Payroll share of turnover | 20.4% | 23.3% |
| Employees, prior year | 9,932 | 3,786 |
| Dividends paid | n/d | n/d |
| Charges outstanding | 0 | 2 |
A figure the filing does not disclose is shown as n/d; a zero in a filing is treated as not disclosed. Rounding: below £0.1m in thousands, £0.1m to £2m to one decimal place, above that to the nearest million.
Revolut v Monzo: common questions
Who is the biggest of Revolut or Monzo?
Revolut, with turnover of £4,516m in the year to December 2025.
Which makes the most profit?
Revolut: £1,713m pre-tax in the year to December 2025.
Which employs the most people?
Revolut, with 10,909 employees in its latest accounts.
Revolut or Monzo: which is bigger?
Revolut, with turnover of £4,516m against £1,724m at Monzo on their latest filings. On margin, Revolut keeps more of each £100 as pre-tax profit. The full head to head is in the VS Series. Read the VS page →
Where do these figures come from?
Each company's latest accounts filed at Companies House. Each links to its full Spark Intel profile, which names the filing it comes from.
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