Estimated customer growth of Revolut and N26 2018-2020

This statistic illustrates a forecasted growth rate of online only banks Revolut and N26 based on their reported monthly new customers. If both companies continue their current trends in new customers, they will see a combined total of over 14 million customers by December 2020. As both companies are expecting to continue expansion into new countries for operation, the actual customer numbers are likely to exceed the figures displayed here. Revolut and N26 currently are the best performing disruptor banks in Europe in terms of customer numbers.

Outperforming the forecast

In February 2018, the London based company Revolut announced that they had hit 1.5 million customers, a figure that had grown to 3 million by November 14th, 2018. The incredible acceleration of new customers joining these online-only banks has been mirrored by the Berlin (Germany) based N26 who have seen their customer base double between June 2018 and December 2018. The current number of customers at Revolut and N26 has outperformed estimations.

Funding

The founder and CEO of N26 Valentin Stalf announced that the company’s Series D funding it acquired would be used to increase customer numbers to 5 million by the beginning of 2020. The extended round in funding in July 2019 has meant that the Berlin based disruptor has become the most funded online bank in Europe. The speed in which fintech firms and disruptor banks have risen has seen several them reach Unicorn status.

Forecasted growth in customers of online only banks Revolut and N26 from 2018 to 2020

RevolutN26
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Sources

Release date

2019

Region

Europe

Survey time period

2018

Supplementary notes

Figures have been estimated using press release dates of customer milestones and data of average new customers per day from the respective companies included.

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