Revolut to hire around 3,500 staff to support its global expansion
By Akshay Kedari  Date: 2019-10-01

Revolut to hire around 3,500 staff to support its global expansion

The banking industry plays a vital role in offering end-to-end financial. The development of this industry is crucial as it could help with the development of a county’s economy. In order to fuel this development, companies are coming up with new products as well as expanding their businesses by mean of numerous growth strategies.

Revolut Ltd., a U.K.-based digital banking app, has recently made some developments in this field by announcing plans to recruit a total of 3,500 employees to expand in 24 new markets. A move that was possible due to its latest global deal with payment behemoth Visa.

As per reports, the deal with Visa builds on the existing agreement between the two company, and enables Revolut to expand into new markets, starting with eight new nations which consist of Japan, Brazil, the United States and Russia by end of 2019. Moreover, the company has revealed that it is planning to expand into other Asian and Latin American markets by the year 2020.

Nikolay Storonsky, Chief Executive and Founder, Revolut, said that the global expansion would enable its firm to double or even triple its users by 2020. He claims that the company's average customers has approximately 1000 euros in their account, which takes its total deposit to a balance of 8 billion euros ($8.74 billion).

Incidentally, the company has also widened its customer base by offering its latest product “Revolut youth cards” to children between the age group of 7 to 18 which will be linked to their bank account till the end of this year.

With the latest offering, Revolut’s mission to become the one-stop-shop solution for financial services is not only targeted to its product portfolio but also to its community’s age groups. This trend was first noticed when the company introduced its stock-trading feature, which was aiming to entice millennials.

Reportedly, Revolut is one of the fast-paced firms that has made an astounding growth since its launch and currently has over 8 million users. However, the recent plan to expand into new markets is still dependent on regulatory for approvals.

Source Credit: https://www.businessinsider.com/exclusive-fintech-firm-revolut-to-hire-3500-staff-in-global-push-with-visa-2019-9?IR=T

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

BMW drivers can now unlock and start cars without using their iPhone
BMW drivers can now unlock and start cars without using their iPhone
By Akshay Kedari

German multinational automobile manufacturer, Bayerische Motoren Werke AG, commonly known as BMW, has reportedly unveiled an upgraded version of its mobile car key technology, called the Digital Key Plus. This product enables iPhone users to unlock t...

FMCG firms resort to marginal hike to cope with raw material inflation
FMCG firms resort to marginal hike to cope with raw material inflation
By Akshay Kedari

The recent inflation in raw materials has reportedly prompted players in the FMCG sector to take price hike measures for their products, in a bid to maintain the revenues. According to reliable sources, some FMCG companies, including Marico, have al...

boAt raises USD 100 million in funding from Warburg Pincus
boAt raises USD 100 million in funding from Warburg Pincus
By Akshay Kedari

Indian consumer electronics brand, boAt, has reportedly secured funding of USD 100 million from Warburg Pincus, a New-York-based private equity firm, at a USD 300 million valuation. The company will utilize these funds to expand its product portfoli...

Elevar Therapeutics and Inceptua partner to commercialize Apealea®
Elevar Therapeutics and Inceptua partner to commercialize Apealea®
By Akshay Kedari

According to reliable sources, U.S.-based fully integrated biopharmaceutical company, Elevar Therapeutics Inc., has signed an exclusive agreement with Inceptua Group for the commercialization and distribution of its non-cremophor based paclitaxel tre...

NASA completes construction of ‘LC-48’ at Kennedy Space Center
NASA completes construction of ‘LC-48’ at Kennedy Space Center
By Akshay Kedari

The National Aeronautics and Space Administration (NASA) has reportedly announced the completion of the construction of its new launchpad at the Kennedy Space Center based in Florida. Notably, the new Launch Complex 48 or LC-48 is a pad that will be ...