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{{Infobox website {{Infobox website
|name = Revolut Ltd |name = Revolut Ltd
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|founded = {{start date and age|2013|June}}
|founded = {{start date and age|2015|July}}<ref name="crunchbase-timeline">{{cite web |url=https://www.crunchbase.com/organization/revolut/timeline#/timeline/index | title=Revolut company timeline | publisher=Crunchbase | accessdate=11 January 2016}}</ref> <!-- {{start date and age|year|month|day}} -->
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The ]-based ] was founded by ] and Vlad Yatsenko and currently supports spending and ] withdrawals in 120 currencies and sending in 26 currencies directly from the mobile app.<ref name="revolutfaq">{{cite web |url=https://revolut.com/FAQ | title=Revolut FAQ | publisher=Revolut | accessdate=11 January 2016}}</ref> The ]-based ] was founded by ] and Vlad Yatsenko and currently supports spending and ] withdrawals in 120 currencies and sending in 26 currencies directly from the mobile app.<ref name="revolutfaq">{{cite web |url=https://revolut.com/FAQ | title=Revolut FAQ | publisher=Revolut | accessdate=11 January 2016}}</ref>


The company is based in Level39, a ] incubator in ], London. The company is based in Level39, a ] incubator in ], London.<ref>{{cite web |title=Are You Ready To Give Fintech A Try? |url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/sites/enriquedans/2018/04/29/are-you-ready-to-give-fintech-a-try/ |website=] |accessdate=12 June 2018}}</ref>


== History == == History ==

Revision as of 13:42, 12 June 2018

Revolut Ltd
Type of sitePrivate
Available inMultilingual
FoundedJune 2013; 11 years ago (2013-06)
HeadquartersLondon, United Kingdom
Founder(s)Nikolay Storonsky, Vlad Yatsenko
CEONikolay Storonsky
IndustryFinTech
ProductsDebit card, Foreign Exchange, Insurance, Peer-to-peer Lending, Remittance
ServicesTravel money, currency exchange, peer-to-peer payments
Employees350 (2018)
URLrevolut.com
RegistrationYes
LaunchedJuly 1, 2015; 9 years ago (2015-07-01)

Revolut Ltd is a digital banking alternative that includes a pre-paid debit card (MasterCard or VISA), currency exchange, cryptocurrency exchange (Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC)) and peer-to-peer payments. Revolut currently charges no fees for the majority of its services (but for a capped usage), and uses interbank exchange rates for its currency exchange on weekdays, and charge a markup from 0.5% to 1.5% on weekends. The Revolut App gives customers instant access to Bitcoin, Litecoin and Ether by exchanging to/from 25 fiat currencies. However, they remain in the app and cannot be moved to another cryptocurrency wallet.

The London-based startup was founded by Nikolay Storonsky and Vlad Yatsenko and currently supports spending and ATM withdrawals in 120 currencies and sending in 26 currencies directly from the mobile app.

The company is based in Level39, a financial technology incubator in Canary Wharf, London.

History

Revolut launched to the public in July 2015 with the aim of "building a fair and frictionless platform to use and manage money around the world" by removing hidden fees and offering interbank currency rates. Nikolay Storonsky, a former trader at Credit Suisse and Lehman Brothers, said in an interview with Forbes that:

I thought of the business three years ago. I was travelling a lot and wasting hundreds of pounds on foreign transaction fees and exchange rate commissions which just didn’t feel right. As someone with a financial background I knew exactly the rates I should be getting. As a solution, I tried to find a multi-currency card and was later told it wasn’t possible. But I was determined to make it work.

Alongside Vladyslav Yatsenko, former Credit Suisse and Deutsche Bank developer, Storonsky set up Revolut and raised around $3.5 million.

On 8 February 2017, Revolut launched UK current accounts, enabling its customers to get a personal IBAN. In July 2017, Revolut started doing the same for personal EUR IBANs.

On 26 April 2018, Revolut announced that it had raised a further $250 million in a funding round led by Hong Kong-based DST Global, reaching a total valuation of $1.7 billion and thus becoming a unicorn.

As of June 2018 the company claimed to have 2 million users.

See also

References

  1. "How Nikolay Storonsky Took Revolut From $350m To A $1.7bn Valuation In Just Six Months". Forbes. Retrieved 16 May 2018.
  2. "Revolut company profile". AngelList. Retrieved 11 January 2016.
  3. Dillet, Romain (20 July 2015). "Revolut Raises $2.3 Million For Its Mobile Foreign Exchange Service". TechCrunch. Retrieved 11 January 2016.
  4. "Revolut on Twitter". Twitter. Retrieved 2016-06-19.
  5. "Revolut: Not necessarily cheaper than an(y) other Mastercard". Retrieved 13 March 2016.
  6. "Weekend exchange-rate surcharge clarification". Retrieved 2017-12-05.
  7. "Banking App for Travelers – Revolut Converts Currencies Minus the Fees! | Kevin Kyburz". Kevin Kyburz. 2018-01-29. Retrieved 2018-02-11.
  8. "Revolut FAQ". Revolut. Retrieved 11 January 2016.
  9. "Are You Ready To Give Fintech A Try?". Forbes. Retrieved 12 June 2018.
  10. "About Revolut". Retrieved 2016-09-11.
  11. "Revolut Deck". SlideShare. 2015-01-14. Retrieved 2016-09-11.
  12. ^ Salter, Philip. "London Fintech Entrepreneur Talking About A Revolution". Forbes.
  13. Dillet, Romain (8 February 2017). "Revolut launches current accounts and a chatbot". Retrieved 8 February 2017.
  14. Munford, Monty (26 April 2018). "Revolut launches current accounts and a chatbot". Retrieved 26 April 2018.
  15. "Fintech start-up Revolut grabs 2 million users and plans to launch commission-free trading service". CNBC. Retrieved 12 June 2018.
  16. "UK fintech start-up Revolut reaches 2 million users". The Daily Telegraph. Retrieved 12 June 2018.

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