Revolut

Revolut’s main activity is that of a neobank, offering digital financial services via a mobile application. Revolut provides a range of products and services, including current accounts, payment cards (physical and virtual), low-cost international money transfers, multi-currency management, buying and selling cryptocurrencies, as well as budgeting tools. The company mainly targets individuals, travelers, expatriates, and small businesses seeking innovative, flexible, and international banking solutions outside traditional banking channels.

Revolut is a British fintech company founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. Originally, Revolut offered a prepaid payment card and a mobile app allowing users to make international payments at lower cost, relying on interbank exchange rates. The initial goal was to simplify and reduce the cost of overseas transactions for individuals.

Over the years, Revolut has experienced rapid growth and expanded its range of products. Key milestones in its development include:

• 2015: Creation of Revolut in London, launch of the mobile app and the multi-currency prepaid card.
• 2017: Introduction of features such as cryptocurrency trading and integrated travel insurance.
• 2018: Obtaining a European banking license in Lithuania, allowing Revolut to offer more comprehensive banking services, such as current accounts and deposit protection.
• 2019: Rapid international expansion, notably in Europe, North America, Asia, and Australia. Launch of Revolut Business, a dedicated offering for companies.
• 2020: Development of new products such as commission-free stock trading, automated savings (Vaults), and the introduction of junior accounts for children.
• 2021: Major fundraising valuing the company at over $33 billion, making Revolut one of the most highly valued fintechs in Europe.
• 2022-2023: Continued global expansion, launch of new financial services (credit, insurance, wealth management), and strengthening of the banking strategy with applications for banking licenses in several countries.

Revolut has also distinguished itself through numerous strategic partnerships with payment providers, insurers, and fintech companies. The company has regularly adapted its strategy to respond to market changes, evolving from a simple payment card to a financial super-app integrating banking, investment, insurance, and budget management.

Today, Revolut has more than 30 million users worldwide and continues to innovate by launching new products and expanding its geographic presence, while seeking to obtain full banking licenses in several jurisdictions to strengthen its position as a global neobank.

Since its creation in 2015, Revolut has been primarily funded through fundraising from venture capitalists and institutional investors. Here are the main funding milestones:

- 2015: Seed funding of $2.3 million from Balderton Capital, Seedcamp, and other investors.
- 2016: Series A of $10 million led by Balderton Capital.
- 2017: Series B of $66 million led by Index Ventures, with participation from Ribbit Capital and DST Global.
- 2018: Series C of $250 million led by DST Global, with participation from Index Ventures and Ribbit Capital, valuing Revolut at $1.7 billion (unicorn status).
- 2020: Series D of $500 million led by TCV, valuing the company at $5.5 billion.
- 2021: Series E of $800 million led by SoftBank Vision Fund 2 and Tiger Global Management, bringing the valuation to $33 billion.

Revolut also obtained a European banking license in 2018 via the Bank of Lithuania, which allowed it to expand its banking services.