Prominent digital bank Revolut is reportedly planning to hire several senior management professionals in Singapore.
The UK-headquartered Fintech Unicorn noted that it’s looking to recruit senior-level executives for managing its operations in the city-state. As first reported by Tech in Asia, Revolut also plans to hire for the following Singapore-based roles: head of compliance, head of risk management, expansion manager, securities compliance manager, enterprise risk manager, strategy and operations managers, HR administrator, and operations managers.
Revolut launched operations in Singapore over a year ago and claims more than 70,000 customers (in the country). The leading digital bank, which has not yet achieved profitability, has still managed to extend its operations across the Asia Pacific (APAC) region. As reported, Revolut has entered the Japanese markets and Australia as well. The Fintech company is now preparing to further expand within the APAC region.
Revolut’s teams in Australia, Singapore, and Japan will be focused on supporting various product launches, market expansion efforts, and the firm’s overall growth acceleration strategy.
Ryan Park, Head of Talent Acquisition for Revolut (in Asia Pacific), stated:
“Revolut is looking to expand globally and we are on the constant lookout for top talent in each market to join us.”
The digital bank will also be shortlisting suitable interns until November 30, 2020. The internships at Revolut will begin in February 2021.
Established in 2015, the UK-headquartered firm primarily focuses on mobile banking, card payments, remittances, and foreign exchange services. Revolut was last valued at approximately $5.5 billion following the Fintech firm’s massive $500 million Series D round that was led by Silicon Valley-based VC company TCV (in February 2020).
In May of this year, Revolut’s Singapore office had appointed a new company CEO, Head of Growth, and a new Chief Compliance Officer.
Revolut competes for market share in Singapore with Nium, which recorded $7.3 million in revenue last year. Revolut also competes in certain services with London’s Transferwise, which is valued at $5 billion after completing its $319 million secondary share sales earlier this year. Unlike Revolut, Transferwise has managed to become profitable but it has also been in the market for a significantly longer period of time.
As reported in September 2020, Revolut Business celebrated 500,000 customers by refreshing its platform look and introducing new features.
Earlier this month, Revolut announced that UK businesses may now accept payments directly online. The digital bank has also added Google Pay in 10 new markets and will be supporting Open Banking for its customers in Germany.