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Revision as of 15:06, 9 August 2019 editUnclehowell (talk | contribs)116 editsm The cryptocurrency feature has been unlockedTag: 2017 wikitext editor← Previous edit Revision as of 19:09, 13 August 2019 edit undoCyanoTex (talk | contribs)Extended confirmed users, Pending changes reviewers, Rollbackers5,787 edits Not sure if this will fly by, but here.Tag: Visual editNext edit →
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{{merge from|Nikolay Storonsky|date=October 2018}} {{merge from|Nikolay Storonsky|date=October 2018}}
{{Infobox company {{Infobox company
|name = Revolut Ltd | name = Revolut Ltd
|logo = Revolut.svg | logo = Revolut.svg
|logo size = | logo size =
|logo alt = | logo alt =
|collapsible = <!-- "yes" or "no" --> | collapsible = <!-- "yes" or "no" -->
|screenshot = | screenshot =
|screenshot size = <!-- width in pixels, with "px" suffix --> | screenshot size = <!-- width in pixels, with "px" suffix -->
|screenshot alt = | screenshot alt =
|caption = | caption =
|type = ] | type = ]
|traded as = | traded as =
|founded = {{start date and age|2015|07|01|df=yes}}<ref name="angellist-revolut">{{cite web |url=https://angel.co/revolut | title=Revolut company profile | publisher=AngelList | accessdate=11 January 2016}}</ref> | founded = {{start date and age|2015|07|01|df=yes}}<ref name="angellist-revolut">{{cite web |url=https://angel.co/revolut | title=Revolut company profile | publisher=AngelList | accessdate=11 January 2016}}</ref>
|dissolved = <!-- {{start date and age|year|month|day}} --> | dissolved = <!-- {{start date and age|year|month|day}} -->
|predecessor = | predecessor =
|successor = | successor =
|location = ], ] | location = ], ]
|coordinates = | coordinates =
|country of origin = | country of origin =
|locations = | locations =
|area served = | area served =
|founder = ], Vlad Yatsenko | founder = ], Vlad Yatsenko
|president = | president =
|key_people = ] (]) | key_people = ] (])
|MD = | MD =
|GM = | GM =
|key people = | key people =
|industry = ] | industry = ]
|products = current accounts, debit cards, insurance, peer-to-peer lending, remittance | products = Current Accounts, Debit Cards, Insurance, Peer-to-peer lending, Remittance
|services = peer-to-peer payments, currency exchange | services = Peer-to-peer payments, Currency Exchange
|revenue = | revenue =
|operating income = | operating income =
|international = <!-- "yes" or "no" --> | international = <!-- "yes" or "no" -->
|net income = | net income =
| assets =
| owner =
|assets =
⚫ | num_employees = 630+
|owner =
⚫ | num_employees_year = Dec 2018
⚫ |num_employees = 630+
| parent =
⚫ |num_employees_year = Dec 2018
⚫ | divisions =
|parent =
⚫ | subsidiaries =
⚫ |divisions =
⚫ | website = {{url|revolut.com}}
⚫ |subsidiaries =
⚫ | footnotes =
⚫ |website = {{url|revolut.com}}
⚫ |footnotes =
}} }}


'''Revolut Ltd''' is a UK ] company that offers ] services including a pre-paid ] (] or ]), ], ] exchange and ] payments.<ref name="techcrunch1">{{cite web|url=https://techcrunch.com/2015/07/20/revolut-raises-2-3-million-for-its-mobile-foreign-exchange-service/|title=Revolut Raises $2.3 Million For Its Mobile Foreign Exchange Service|author=Dillet|first=Romain|date=2015-07-20|website=]|publisher=|archive-url=|archive-date=|dead-url=|accessdate=2016-01-11}}</ref> The Revolut ] supports spending and ] withdrawals in 120 currencies and sending in 29 currencies directly from the app. It also provides customers access to ] such as ] (BTC), ] (ETH), ] (LTC), ] (BCH), and ] by exchanging to or from 25 ]. <ref>{{Cite news|url=https://techgarage.blog/en/banking-app-for-travelers-revolut-converts-currencies-minus-the-fees/|title=Banking App for Travelers – Revolut Converts Currencies Minus the Fees!|last=Kyburz|first=Kevin|date=2018-01-29|work=Techgarage|access-date=2018-02-11|language=en-US}}</ref> '''Revolut Ltd''' is a UK ] company that offers ] services including a prepaid ] (] or ]), ], ] exchange and ] payments.<ref name="techcrunch1">{{cite web|url=https://techcrunch.com/2015/07/20/revolut-raises-2-3-million-for-its-mobile-foreign-exchange-service/|title=Revolut Raises $2.3 Million For Its Mobile Foreign Exchange Service|author=Dillet|first=Romain|date=2015-07-20|website=]|publisher=|archive-url=|archive-date=|dead-url=|accessdate=2016-01-11}}</ref> The Revolut ] supports spending and ] withdrawals in 120 currencies and sending in 29 currencies directly from the app. It also provides customers access to ] such as ] (BTC), ] (ETH), ] (LTC), ] (BCH), and ] by exchanging to or from 25 ]. <ref>{{Cite news|url=https://techgarage.blog/en/banking-app-for-travelers-revolut-converts-currencies-minus-the-fees/|title=Banking App for Travelers – Revolut Converts Currencies Minus the Fees!|last=Kyburz|first=Kevin|date=2018-01-29|work=Techgarage|access-date=2018-02-11|language=en-US}}</ref>


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. Revolut currently charges no fees for the majority of its services (but for a capped usage), and uses inter bank exchange rates for its currency exchange on weekdays, and charge a markup from 0.5% to 1.5% on weekends.


The ]-based ] was founded by ] and Vlad Yatsenko. The company originally was based in Level39, a ] incubator in ], ].<ref>{{cite web|url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/sites/enriquedans/2018/04/29/are-you-ready-to-give-fintech-a-try/|title=Are You Ready To Give Fintech A Try?|last=Dan|first=Enriques|date=2018-04-29|website=]|archive-url=|archive-date=|dead-url=|accessdate=2018-06-12}}</ref> The ]-based ] was founded by ] and Vlad Yatsenko. The company originally was based in Level39, a ] incubator in ], ].<ref>{{cite web|url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/sites/enriquedans/2018/04/29/are-you-ready-to-give-fintech-a-try/|title=Are You Ready To Give Fintech A Try?|last=Dan|first=Enriques|date=2018-04-29|website=]|archive-url=|archive-date=|dead-url=|accessdate=2018-06-12}}</ref>
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In March 2019, an exposé of the company's employment practices and culture was published by ]. This found evidence of unpaid work, high staff turnover and employees being ordered to work weekends to meet ]s.<ref>{{Cite news|url=https://www.wired.co.uk/article/revolut-trade-unions-labour-fintech-politics-storonsky|title=Revolut insiders reveal the human cost of a fintech unicorn's wild rise|last=Mellino|first=Emiliano|date=2019-02-28|work=Wired|access-date=2019-03-01|language=en-UK}}</ref> It was also revealed the company's Chief Financial Officer had quit, following allegations of compliance lapses.<ref>{{Cite news|url=https://techcrunch.com/2019/03/01/revolut-cfo-peter-ohiggins-resigns//|title=Revolut CFO resigns following money laundering controversy|last=Russell|first=Joe|date=|work=]|access-date=2019-03-01|language=en-UK}}</ref> In March 2019, an exposé of the company's employment practices and culture was published by ]. This found evidence of unpaid work, high staff turnover and employees being ordered to work weekends to meet ]s.<ref>{{Cite news|url=https://www.wired.co.uk/article/revolut-trade-unions-labour-fintech-politics-storonsky|title=Revolut insiders reveal the human cost of a fintech unicorn's wild rise|last=Mellino|first=Emiliano|date=2019-02-28|work=Wired|access-date=2019-03-01|language=en-UK}}</ref> It was also revealed the company's Chief Financial Officer had quit, following allegations of compliance lapses.<ref>{{Cite news|url=https://techcrunch.com/2019/03/01/revolut-cfo-peter-ohiggins-resigns//|title=Revolut CFO resigns following money laundering controversy|last=Russell|first=Joe|date=|work=]|access-date=2019-03-01|language=en-UK}}</ref>


As of July 2019, the company claimed to have over 6 million users<ref>https://www.revolut.com/en-US/about-revolut</ref>. That same month, Revolut launched commission-free NYSE & Nasdaq stocks trading within its app for customers in its "Metal" plan.<ref>{{Cite web|url=https://www.ft.com/content/a50349ae-b3ac-11e9-bec9-fdcab53d6959|title=Subscribe to read|website=Financial Times|language=en-GB|access-date=2019-08-09}}</ref> As of July 2019, the company claimed to have over 6 million users<ref>https://www.revolut.com/en-US/about-revolut</ref>. That same month, Revolut launched commission-free NYSE & NASDAQ stocks trading within its app for customers in its "Metal" plan.<ref>{{Cite web|url=https://www.ft.com/content/a50349ae-b3ac-11e9-bec9-fdcab53d6959|title=Subscribe to read|website=Financial Times|language=en-GB|access-date=2019-08-09}}</ref>


== References == == References ==

Revision as of 19:09, 13 August 2019

A major contributor to this article appears to have a close connection with its subject. It may require cleanup to comply with Misplaced Pages's content policies, particularly neutral point of view. Please discuss further on the talk page. (April 2019) (Learn how and when to remove this message)
It has been suggested that Nikolay Storonsky be merged into this article. (Discuss) Proposed since October 2018.
Revolut Ltd
Company typePrivate
IndustryFinTech
Founded1 July 2015; 9 years ago (2015-07-01)
FounderNikolay Storonsky, Vlad Yatsenko
HeadquartersLondon, United Kingdom
Key peopleNikolay Storonsky (CEO)
ProductsCurrent Accounts, Debit Cards, Insurance, Peer-to-peer lending, Remittance
ServicesPeer-to-peer payments, Currency Exchange
Number of employees630+ (Dec 2018)
Websiterevolut.com

Revolut Ltd is a UK financial technology company that offers banking services including a prepaid debit card (MasterCard or Visa), currency exchange, cryptocurrency exchange and peer-to-peer payments. The Revolut mobile app supports spending and ATM withdrawals in 120 currencies and sending in 29 currencies directly from the app. It also provides customers access to cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and XRP by exchanging to or from 25 fiat currencies.

Revolut currently charges no fees for the majority of its services (but for a capped usage), and uses inter bank exchange rates for its currency exchange on weekdays, and charge a markup from 0.5% to 1.5% on weekends.

The London-based startup was founded by Nikolay Storonsky and Vlad Yatsenko. The company originally was based in Level39, a financial technology incubator in Canary Wharf, London.

History

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. DST Global was founded by Yuri Milner, who has been backed by the Kremlin in his previous investments.

In December 2018, Revolut secured a Specialised Bank licence from European Central Bank, facilitated by the Bank of Lithuania. Having secured a Specialised Bank licence, Revolut is authorised to accept deposits and offer consumer credits. The main difference between a specialised and a full-range bank is that the former is not authorised to provide investment services. At the same time, an Electronic Money Institution licence was issued by the Bank of Lithuania.

In March 2019, an exposé of the company's employment practices and culture was published by Wired. This found evidence of unpaid work, high staff turnover and employees being ordered to work weekends to meet performance indicators. It was also revealed the company's Chief Financial Officer had quit, following allegations of compliance lapses.

As of July 2019, the company claimed to have over 6 million users. That same month, Revolut launched commission-free NYSE & NASDAQ stocks trading within its app for customers in its "Metal" plan.

References

  1. "Revolut company profile". AngelList. Retrieved 11 January 2016.
  2. Dillet, Romain (2015-07-20). "Revolut Raises $2.3 Million For Its Mobile Foreign Exchange Service". TechCrunch. Retrieved 2016-01-11. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  3. Kyburz, Kevin (2018-01-29). "Banking App for Travelers – Revolut Converts Currencies Minus the Fees!". Techgarage. Retrieved 2018-02-11.
  4. Dan, Enriques (2018-04-29). "Are You Ready To Give Fintech A Try?". Forbes. Retrieved 2018-06-12. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  5. Munford, Monty (2018-04-26). "Revolut launches current accounts and a chatbot". Forbes. Retrieved 2018-04-26.
  6. Drucker, Jesse (2017-11-05). "Kremlin Cash Behind Billionaire's Twitter and Facebook Investments". The New York Times. ISSN 0362-4331. Retrieved 2019-01-31.
  7. "Revolut granted specialised bank and electronic money institution licences". Bank Of Lithuania. 2018-12-13. Retrieved 2018-12-13. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  8. Megaw, Nicholas (2018-12-13). "Lithuania licence lets Revolut launch banking products". Financial Times. Retrieved 2018-12-13. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  9. Mellino, Emiliano (2019-02-28). "Revolut insiders reveal the human cost of a fintech unicorn's wild rise". Wired. Retrieved 2019-03-01.
  10. Russell, Joe. "Revolut CFO resigns following money laundering controversy". TechCrunch. Retrieved 2019-03-01.
  11. https://www.revolut.com/en-US/about-revolut
  12. "Subscribe to read". Financial Times. Retrieved 2019-08-09. {{cite web}}: Cite uses generic title (help)

External links

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