Tagged: nik storonsky

Revolut’s Revenue Nearly Tripled in 2019 to £162.7 Million, While Loss Jumped to £107.4 Million

Revolut, a leading UK based digital bank, filed its annual report yesterday indicating that for the fiscal year 2019 revenue jumped alongside a growing annual loss. According to the Fintech, in 2019, revenue nearly tripled to £162.7 million vs. £58.2 million in 2018. The operating… Read More

Paxos Launches Crypto Brokerage, Revolut is First US Customer

Paxos Trust Company, the first regulated Trust company for digital assets in the US, is introducing Paxos Crypto Brokerage – a service that integrates digital asset trading and sending within its portfolio of services. Paxos reports that it is the largest issuer of regulated stablecoins… Read More

Revolut Works with Anti-Poverty Charity Trussell Trust Food Bank

Digital bank Revolut has partnered with the Trussell Trust food bank in the UK to enable Revolut users to donate in-App to individuals in need. Revolut made the decision to implement a direct donation feature in light of the ongoing COVID-19 pandemic. The company says… Read More

Digital Bank: After Several Months of a Beta Launch, Revolut “Officially” Launches in the US

Revolut, a top digital-only bank operating across Europe and several other countries around the world, has “officially” launched in the US. Last month, Revolut revealed a huge half-billion dollar funding round to help finance its expansion plans. In 2019, Revolut opened up its US services… Read More

Digital Bank Revolut Raises $500 Million at $5.5 Billion Valuation

Leading UK based digital bank Revolut has closed on a $500 million series D funding according to a note from the company. The Fintech was valued at $5.5 billion making it one of the most valued private Fintechs in the world. Funding was led by… Read More

UK: Revolut to Offer Savings Accounts with 1.35% Interest Rate

Digital challenger bank Revolut has announced a new savings accounts for users in the UK market. The bank says the savings accounts will be available to Revolut Metal customers and earn a 1.35% interest rate on deposits – one of the higher rates of returns… Read More

Asia: Digital Bank Revolut Introduces New Debit Multi-Currency Card for Traveling Millennials

UK based digital bank Revolut has introduced a new debit multi-currency card that comes with “compelling travel benefits and cashback” for millennials who might be traveling, Kunal Chatterjee, Visa country manager for Singapore and Brunei confirmed. Revolut recently expanded into Asia with its sights set… Read More

Revolut Appoints New Chairman of the Board: Martin Gilbert former Co-CEO of Standard Life Aberdeen to Aid International Expansion of Digital Bank

Digital bank Revolut has selected a new Chairman of the Board. Martin Gilbert, an individual who has been advising Revolut co-founder and CEO Nik Storonsky, will join the bank on January 1st as non-Executive Chair. Gilbert is the former co-Chief Executive of Standard Life Aberdeen,… Read More

Revolut to Soon Offer Mastercard Credit Cards to US Customers

Revolut has partnered with Mastercard to issue credit cards using the global network. According to a release from Revolut, the new deal will reach 210 countries and territories with he first cards hitting the US by the end of the year. Revolut is a UK… Read More

Revolut Expands into Portugal with New Customer Operations Center in Porto

Digital bank Revolut is expanding into Portugal with a new customer operations center in Porto. The company reports that it will hire up to 400 new employees at the new location. Ricardo Macieira, an ex-Airbnb executive, and Rebeca Venancio, formerly at Microsoft, have been appointed… Read More

Digital Bank Revolut Adds Charity Feature that Enables Seamless Donations

Digital bank Revolut has announced a new feature that facilitates donations to charitable causes. Launched today, Revolut’s new in-app feature labeled “Donations”, allows customers to round up payments and donate the money to three international charities. Another option of the feature is to allow customers… Read More

Down Under: Digital Bank Revolut Launches in Australia as Expansion Outside of Europe Starts

Digital bank Revolut has traveled half-way around the world to set up operations in Australia with an office in Melbourne. This is the first step by Revolut to provide banking services beyond European borders. According to a release from Revolut, the digital bank is operating… Read More

Report: Revolut Plans Banking License in Russia, Meanwhile Launch in Lithuania is Delayed

Digital bank Revolut has grand plans to expand its services around the world. Based in the UK, the Fintech now serves over 4 million customers in the European Economic Area (EEA), Switzerland, and Australia. A Fintech Unicorn, Revolut has not been shy about its intent… Read More

Revolut Hits Rough Patch as CFO Resigns, Questions Arise Regarding Compliance [u]

Digital challenger bank Revolut has had a rough week. An article in the Telegraph on Friday questioned the bank’s process for monitoring transactions processed by the bank stating a system to prevent sanctions screening and other illicit activity was “switched off.”  The Fintech had apparently… Read More

Concerned About the UK’s Fintech Prominence, Revolut CEO Calls for a Tech Visa to Help with Brexit Fallout

Nik Storonsky, the CEO and co-founder of digital bank Revolut, has told the UK Government to create specialised tech visas for professionals to ameliorate growing concerns of Brexit fallout. Revolut said it plans on doubling its workforce in the coming months as it expands services and… Read More

Revolut Signs Agreement with Regtech ClauseMatch

Digital bank Revolut has announced a new agreement with London-based Regtech ClauseMatch. According to a release from ClauseMatch, following a successful trial period the bank is adopting the regulatory technology to streamline management of internal policies, controls, and regulatory compliance. The trial period only took… Read More

Digital Bank Revolut Provides Details on International Expansion, Launches Global Licensing Team

Digital challenger bank Revolut has provided some additional details into their strategy for international expansion. Long forecasted, the global rollout of the bank has yet to breach the confines of Europe. To facilitate the expansion, Revolut said they are creating an “elite global licensing team”… Read More

Revolut Unveils New Tech to Reduce Fraud for its 3M+ Customers

Revolut, fintech unicorn and successful Crowdcube alum, is taking its customer protection to the next level, intending to become a world leader. As part of the platform’s plan, a new fleet of machine learning technology has been unveiled, a fleet that has already reportedly seen… Read More

Revolut CEO Says Wall Street Has No Interest in Crypto

The CEO of London-based digital only banking platform Revolut has denied popular claims that Wall Street is poised to avalanche into cryptocurrency investing. Revolut CEO Nikolay Storonsky, told an audience at the Web Summit 2018 in Lisbon, last week, that, as far as he is concerned: “There is… Read More

Digital Bank Revolut Reports 5X Jump in Top Line Revenue, Users Now Over 1.3 Million

UK based digital challenger bank Revolut is reporting 2017 numbers and according to the Fintech revenue has increased 5X from £2.4 million to £12.8 million as monthly transaction volume jumps from $200 million to $1.5 billion. Revolut also reported a loss for the year of… Read More

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