Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the last week in a TOP 5 list!
As Revolut has been accused of pushing 50 of its staff to quit or to get fired, the company’s CEO Nikolay Storonsky has assured its employees in leaked messages that the actions should be reviewed.
Curve recently rolled out premium Curve Metal card and now its pushing forward with “Klarna-like” buy now, pay later product called “Curve credit”. The major difference to Klarna is that Curve doesn’t necessarily require merchants to directly support Curve Credit as a payment option at checkout.
TransferWise has hit £2 billion in deposits for its multi-currency accounts. Revolut introduced a new limit on foreign exchange offering for its free plan but subscribers to Revolut’s premium and metal don’t get any limits. Klarna has announced a partnership with the German online deposit marketplace platform Raisin to expand in the German market.
1st place: Leaked messages from Revolut’s CEO Nikolay Storonsky address the job cut accusations
Last week, we reported on Revolut forcing some staff to leave their jobs without severance – citing underperformance or making them quit on their own accord for just a slice of severance.
Since Revolut has not really addressed the issue publicly so far, let’s take a look at how has the CEO addressed it in messages he sent to his employees.
2nd place: Curve is testing the Curve Credit, a Klarna like service
Curve is a UK based banking platform that consolidates multiple cards into a single card and app. According to a TechCrunch report, Curve is quietly testing its “Klarna rival” option.
The “Curve Credit“ is being tested with just a small number of customers at the moment. The full launch is expected later this year.
3rd place: TransferWise hits £2 billion in customer deposits
TransferWise is a UK-founded digital money transfer fintech. Now it has hit £2 billion in deposits for its multi-currency accounts.
TransferWise’s account has been adopted massively year-on-year by millions of expats, travelers, freelancers, and businesses across the world looking for a cheaper and faster way to send money across borders. All that at the real-exchange rate.
4th place: Revolut is increasing its charges and introduces new fees
Challenger bank Revolut introduced a new limit on foreign exchange offering for its free plan.
It is reducing the amount users can exchange for another currency without a fee from £5,000 to £1,000 per month, with fees also doubling for weekend transfers. This move has already provoked claims that the fast-growing fintech is now acting like a regular bank.
5th place: Klarna and Raisin team up to launch savings accounts in Germany
Swedish ‘buy now – pay later’ unicorn Klarna has partnered with the German online deposit marketplace platform Raisin to expand it’s offering in the German market.
The products, available exclusively online through Raisin WeltSparen, will operate from overnight to terms of up to 48 months with a competitive interest rate of 0.35%.
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