Revolut's pretax profit surged 149% last year to 1.1 billion pounds ($1.46 billion) as the financial technology firm rode a wave in crypto trading and earned more from interest rates and card fees, the company said on Thursday.

Revolut more than doubled its profits to £1bn last year, as Europe’s most valuable start-up surpassed 50mn customers and benefited from a surge in cryptocurrency trading. In an annual report published on Thursday, Revolut said its pre-tax profits had increased from £438mn a year earlier. Revenues rose to £3.1bn, from £1.8bn.