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Revolut outpaced rivals in 2021 as downloads of the banking app soared ahead of the likes of N26, Monzo, and Starling

Revolut outpaced rivals in 2021 as downloads of the banking app soared ahead of the likes of N26, Monzo, and Starling
Screenshots of Revolut's app.Revolut


London-based Revolut has recorded a 37% increase in downloads of its Android app, new data shows.




Figures from App Radar also point to slowdowns in the growth of both Monzo and Starling.




Neobanks still lag traditional banks but the gap in customer numbers is closing.A 


Challenger bank Revolut has dramatically outperformed its European rivals so far this year as its valuation increased six-fold, new data shows.Downloads of the banking app surged 37.6% year on year on Android to 5.23 million, according to January-November data shared with Insider by App Radar. Its total downloads sit at 15.8 million, more than any other European player, though downloads don't necessarily equal active users, and Revolut has around 16 million users globally.Revolut raised $800 million in July in a deal that lifted its valuation to $33 billion. Its backers include US investing giant Tiger Global and Japan's SoftBank.Germany's N26, which lured investment from Philippe Laffont's Coatue at a $9 billion valuation in October, continued to see growth in downloads, but less impressively than Revolut. Android users downloaded the N26 app 1.33 million times this year, up 14.68%, taking its total to 5.6 million.
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