Digital bank Revolut has raised €10 million to benefit the people of Ukraine. The donations have been coordinated with Red Cross Ukraine and include matching contributions from Revolut.
Russia invaded Ukraine in an unprovoked act of war on Thursday, February 24. On March 1st, Revolut co-founder and CEO Nik Storonsky announced an initiative to accept donations benefiting Ukraine while committing to match contributions up to £1.5 million. Revolut reports that now more than 300,000 individuals have contributed to the initiative. Revolut first allowed customers to instantly donate to the Red Cross Ukraine appeal on 25 February, raising more than €1 million in the first 24 hours. Since then, Revolut stated that customers in more than 50 countries have used its app to make instant donations to their local Red Cross Ukraine appeal.
Christopher Guttridge, head of Revolut’s donations team, said they are delighted to see the worldwide support from people who have rallied behind the important work of the Red Cross.
“Through our instant, fee-free donations and matching programme we are proud to use technology to speed vital support to those who need it most. Everyone at Revolut is proud to be part of a British company with global reach assisting the Ukrainian people in their time of need. Our customers’ generosity will enable many more people to benefit from the critical work of the Red Cross team on the ground in Ukraine and surrounding countries.”
Revolut states that the funds will support Red Cross teams in Ukraine and the border countries to provide essential aid. In Ukraine, Red Cross volunteers are providing first aid, clothes, and support in shelters and metro stations. Revolut adds that 100% of the funds go to the Red Cross and donations are free and instant.
Revolut pointed to a statement made by the International Red Cross last week:
“Communities in Ukraine have been bearing the brunt of eight long years of conflict. Even before recent developments, this is a conflict that hits people daily on personal, psychological and emotional levels, bringing death, injury and separation from loved ones, as well as the huge mental toll of ongoing violence and insecurity.”