The London-based company Revolut is one of Europe’s most valuable fintech startups and has just launched in the U.S.
In Europe, it has more than 10 million customers and Revolut claims that “tens of thousands” of US customers already signed up to its platform.
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Revolut has made launch 2015 with a vision to build app where customers can manage all financial aspects of their lives. Now it has raised over $800 million in funding and employs more than 2,000 people globally, including in New York and San Francisco.
Except the standard features like control of your debit card from the app, freezing or unfreezing your card, converting from one currency to another based on interbank rate – In the U.S., Revolut is also offering you the ability to receive your salary two days in advance if you share your Revolut banking details with your employer.
US users will be able to exchange and hold money in 28 currencies, and withdraw cash at more than 55,000 US cash machines and globally with no fees.
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“As the cost of living increases disproportionately to people’s take-home salaries, now more than ever, people need to know exactly what is coming in and out of their account,” says Nikolay Storonsky, founder and CEO.
He adds: “The world is becoming more connected, and financial services should be supporting this notion, not hindering it.”
Revolut’s biggest rival Monzo also opened in the US during last year, launching a beta testing phase to tens of thousands of users.
Sources: https://blog.revolut.com/revolut-launch-united-states/ https://www.cityam.com/fintech-bank-revolut-launches-in-the-us/ https://www.uktech.news/news/challenger-bank-revolut-launches-in-the-us-20200324