Revolut is growing faster than Trade Republic - one million new customers every 17 days

One million new customers every 17 days. This is the current growth rate of the British neobank Revolut. It also overshadows the fastest growing German bank: Trade Republic.

Now the strategies are different, and not all customers are the same. What they both have in common is their investors' great confidence in being able to do business successfully with all that money. Revolut's valuation shot up to 100 billion euros in July. Last fall, Trade Republic was one of the most valuable German start-ups, valued at 12.5 billion euros.

Revolut does not cite a bank as a model for its strategy, but Amazon. The reason for this is the breadth of the offering, which goes far beyond finance and banking. In Germany in particular, many new customers are coming to Revolut because of the promotional interest rate of 4.25 percent. In other countries, lounge access at the airport, global mobile data packages or even a points collection system attract people to Revolut.

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More wealth at Trade Republic

Trade Republic is more traditional, much more focused on investments with the ETF savings plan as the founding and core product. Customers therefore have a lot more money in their portfolios. Revolut focuses more on customers' everyday payment routines and the value of their behavior with individually tailored offers.

The customer can only be happy. He benefits from the fact that other well-known providers are joining the German banking market, which is known to be particularly competitive: from a J.P. Morgan Chase from the USA via BBVA from Spain or Robinhood, which is particularly attractive for younger gamblers.

Revolut is rolling out its offerings, developed on a central platform, globally. Banking licenses in the USA and Switzerland were recently added. Next year the mark of 100 million customers around the world is to be broken; there are currently 80 million, three million of them in Germany - a market that will get its share from the enormous investment program of 11.5 billion euros.

Unlike Trade Republic, which is also not listed, Revolut provides concrete figures for its business: 1.5 billion euros in net profit in the last financial year and 5.3 billion euros in consolidated sales. It shows that good business can be done even in a highly competitive environment. Especially with young customers who no longer automatically go to the local Volksbank or Sparkasse branch like they used to. Observing this, they are also (slowly) adapting to the benefit of the customer - market competition is bearing fruit in a textbook manner.