Revolut
Revolut
Revolut was founded by Nikolay Storonsky and Vlad Yatsenko in 2015. It is an alternative to traditional digital banking comprising of currency exchange, a pre-paid debit card, and peer-to-peer payments. Its mission is to develop a smooth platform to manage money around the globe. This platform has enabled users to transfer and spend money with a card that is recognized and accepted globally. The company supports cash withdrawals and spending in 150 currencies at a small cost.26 different currencies can be sent directly from a user-friendly mobile app. Azimo, TransferWise, and WorldRemit are the main competitors of Revolut. The company is based in Wharf, London and is looking to expand its operations globally in the near future. The annual revenue of Revolut is estimated to be $85M mainly due to its appealing exchange rates. An estimated 8M+ customers have made an estimated 350+ transactions.The net worth of the company that is funded by 28 investors is currently around £40B+.
In a nut shell, Revolut is the absolute best way to handle your international banking needs. The big pro of using Revolut compared to other similar services is that they offer the interbank exchange rate, which is pretty much the same rate that banks buy currencies for. Thus when you use your card abroad Revolut will give you the best rate on the market without charging any fees which can help you save thousands every year. In addition to this the user experience is absolutely incredible and you can send fast international money transfers. I wish you the best with your travels.