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Revolut

Revolut

Company: Revolut Ltd

Brand value: US$582 million

Change since 2019: NEW ENTRY!

Category: Banks

Headquarter city: London

Year formed: 2015

Revolut is a British-born digital banking brand with global ambitions; its services are currently available only in Europe and, since March this year in the United States, but the business has plans to expand soon into Australia, Singapore and Hong Kong. Revolut is growing fast, reporting in late 2019 that it was opening around 7,000 new accounts per day and processing $3 billion in transactions per month. Customers can choose from different account types with a range of benefits and fees according to their needs. Services include international transfers, a pre-paid debit card that can be used at cashpoints in 120 countries, a cryptocurrency exchange, and insurance. A Junior account to help parents teach children about managing money was launched in 2020. Revolut started out as a pre-paid debit card, and only became a fully-fledged bank in 2019. In March, it was reported that the latest funding round for Revolut had raised $500 million, valuing the business at $5.5 billion. Revolut has said it will use the latest injection of cash to expand in Europe, begin offering consumer and business loans, and improve customer service.

 

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