Revolut, the global FinTech with more than 45 million customers worldwide, has announced it is doubling down on business accounts as global annualised revenues of its business-to-business (B2B) offering, Revolut Business, have surpassed US$500mn. Globally, monthly processed transaction volume has reached £17bn.
The news comes as Revolut continues to expand its footprint globally with the launch of Revolut Business in Singapore – benefitting global businesses with Singaporean operations and introducing a tech-first business account solution to a market underserved by legacy banks. This move brings the total number of markets where Revolut Business is living to 40. That accelerated growth is set to continue as Revolut Business onboards over 20,000 businesses each month, who are joining hundreds of thousands of monthly active businesses.
Building on this momentum, Revolut has launched Revolut BillPay to further meet the growing demand for better business accounts. Integrated with major accounting softwares, including QuickBooks, Xero and FreeAgent, Revolut BillPay is designed to save time managing and paying bills to suppliers in over 150 destinations with just a few clicks. Businesses can minimise manual effort, benefit from spend controls and approval rules, and gain complete oversight of their operations, freeing up time for business growth.
James Gibson, Head of Revolut Business, said: “In the last year, we’ve made huge strides forward in our mission to be the number one finance automation system for businesses and we recently brought the product to Singapore. With the support of a significant and growing number of customers behind us, we’re aggressively doubling down on B2B and are ready to revolutionise business accounts for even more businesses around the world”.
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