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+.