Fintech Revolut enters in 10 more countries with guaranteed deposit accounts
The financial platform, Revolut has announced the successful launching of its services in 10 additional countries. It has opened its Revolut bank services for the Europian countries including Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Malta, Romania, Slovakia and Slovenia. It holds globally more than 15 million customers, with more than 100 million transactions per month.
Last year, Revolut launched in Poland and Lithuania by offering highly competitive credit products. Fintech’s special banking licence provides limited banking services through the app.
The firm has raised $1b (£720m) till now and was recently valued at $5.5b (£4b). It’s increasing customers allows them to enter a new market with greater availability of services.
Easy-to-go banking facility
Further, Revolut introduced a new feature that allows customers to upgrade the services from the app itself. The newly launched upgrade will allow the customers to have deposits protected under the deposit guarantee scheme. The deposit protection guaranteed by the Lithuanian state company Deposit and Investment Insurance.
The easy-to-go features from Revolut will help customers to do several things in the app itself. Customers can track their spendings like restaurants, grocery and many more. It will facilitate sending and receiving the money to friends and family. Customers can easily spend and transfer money globally without any hidden fees. It holds and exchanges 31 currencies in the app to manage foreign transactions.
“Revolut is now the fastest-growing fintech company in Europe because we put the customer at the heart of everything that we do. Our product design is second to none, we have no hidden fees, and we are constantly building new and innovative financial products”, said Virgilijus Mirkės, Chief Executive Officer of Revolut Bank.
“Launching the bank in ten new European markets will provide a greater level of security and confidence for our customers, and will enable us to launch a host of new products and services in the near future”, continued Mirkės.
Founded in July 2015 by two former bank employees, Nikolay Storonsky and Vlad Yatsenko, the company had an initial vision of eliminating the fees involved in foreign exchange transactions. It gained a following with a service that lets users spend abroad at the real exchange rate, no fees attached. Now the British fintech has over 13 million customers, 2,000+ employees and claims to be on a mission to build a global financial platform – a single app where all the customers can manage their daily finances swiftly.