Inside Revolut: From 2015 to Now Into a $1.7 billion business
Startup Type:
Headquarter: London, UK
Current Status: Active (private; holds banking licenses in multiple regions)
Founders: Nikolay Storonsky, Vlad Yatsenko
Founded Year: 2015
Investors: Index Ventures, DST Global, SoftBank
Funding Raised: $1.7 billion
What Is the business model of Revolut?
Neobank and financial super-app offering currency exchange, debit cards, crypto trading, stock trading, and banking services through a mobile app with low fees
How Revolut got started?
Storonsky founded Revolut in London in 2015, allowing users to spend and exchange currency with minimal fees, later expanded into broader banking and trading features
what growth strategy has Revolut followed?
Used aggressive expansion and feature rollouts to acquire users, aiming to become a one-stop financial app, leveraged a lean digital-only model to undercut traditional banks on fees
what are the top products/features of Revolut
Revolut app, Revolut Metal premium card, crypto and stock trading features, Revolut Business accounts
what was the biggest challenge faced by Revolut?
Regulatory hurdles in obtaining banking licenses across countries, and scrutiny over compliance and customer support as it grew extremely fast, as well as intense competition in the fintech space