Revolut has launched their open API for customers and they have increased their Revolut for Business service; Banking Technology reports that the company said “account owners can generate sandbox and production keys, and set whitelisted IPs as an “extra layer of security”; accounts allow users to send, hold and exchange up to 25 different currencies. Source.
Revolut CEO Nikolay Storonsky recently wrote that Revolut was not the same company it was 12-18 months ago after stories...
The fintech industry is coming up on the tipping point of funding, revenue generation, and user acquisition to rival traditional finance with $20 billion in YTD fintech financing, the several SPACs, and Visa’s $2B Tink purchased. Defensive barriers have eroded.
Let’s take a moment to compare capital. While it is not the money that wins markets, it is the transformation function of that money into novel business assets that does. And while the large banks have a massive incumbent advantage with (1) installed customers and assets, and (2) financial regulatory integration (or capture, depending on your vantage point), there is a real question on whether a $1 generates more value inside of an existing bank, or outside of an existing bank — even when it is aimed at the same financial problem.
Revolut is keeping an eye out for potential acquisitions with the help of their recent $500 million round; with many...
According to a new study by consultancy firm A.T. Kearney the combination of digital only banks and the fact that...
In an interview with the Financial Times Revolut’s CEO Nikolay Storonsky talks about the firm’s successes and how he has built the company; they have raised more than $80mn in capital and are currently valued at more than $415mn; the company has gained a reputation for working long hours and having high demands from Mr. Storonsky; the hard charging CEO believes his style has helped the company grow to where it is today, more than 600,000 users and considered one of the hottest fintech companies sin market today; they interview also covers his time as a trader, his upbringing and who he learns from in business today. Source.
UK digital challenger bank, Starling, has raised £60 million led by Merian Global Investors; the funds will be used to...
Today we're joined by Brett King, founder and executive chairman of Moven, one of the world's original digital banks, and Lex Sokolin, global head of fintech at ConsenSys. Lex and I discussed Moven's recent announcement to shutter its B2C business on episode 170 of Rebank. And we're happy to have the opportunity to connect with Brett directly to discuss the decision in more detail.
This week’s PeerIQ Industry Update continues their coverage of earnings, this week focusing on Amazon; Square acquired e-commerce service provider...
I look at how spending $8 billion can either buy you $3 billion of revenue from Ingenico, or the private valuation of Robinhood and/or Revolut. Would you rather have a massive cash-flow machine, or a venture bet on a Millennial investing meme? To articulate this question in more detail, we walk through the impact behavioral finance has had on economic rational actor theories, and why quantitative financial modeling often similarly fails to capture the underlying tectonic plates of industry. It may not be wrong to bet on Millennials. We talk about what identity economics (ala identity politics) means for market value and how to think about generational change.