Neobank Revolut is on a crypto hiring spree, according to a report by Bloomberg. While many firms, and Fintechs specifically, a cutting headcount or slowing things down, Revolut appears to be bucking the trend.
Recently, Robinhood revealed it was slashing employee headcount by 23% – following an earlier announcement that it was reducing employment by 9%. One of the reasons for staff reductions was the challenging crypto market.
This past June, Coinbase announced that it was reducing employees by 18% – explaining they grew too fast.
Each of these firms provides similar services. Perhaps, Revolut is looking to take advantage of the soft digital asset market in preparation for a bounce.
The report claims that Revolut will be boosting employees in its crypto segment by 20% – in the UK, US, and continental Europe. Already in 2022, Revolut has hired 43 individuals for its crypto operations. Overall, Revolut currently has 233 positions available for locations scattered around the world.
A year ago, Revolut raised a significant round of $800 million at a valuation of $33 billion. So the Fintech should have sufficient money to keep the hiring train going.