Founded in London almost 4 years ago, Revolut recently announced it reached 4M users in Europe and aims to reach the 100M mark in the next 5 years. To reach that objective, Revolut forms local teams in 19 countries in Europe, a project dubbed ”European Growth Machine” and coordinated by Irina Scarlat, Country Manager Revolut Romania.
Revolut’s weekly active users increased from 400.000 in July 2018 to over 1.1M in February 2019, while the number of the monthly users reaches to over 1.9M. Revolut posts also a record transactions volume, with over $7BN a month compared with $4BN in July 2018.
The company aims to develop local 5-10 people-strong teams in 19 European countries. In the same time, the Londoner fintech builds up a central team in UK with the goal to develop the needed processes to support the local teams and their efforts. Revolut aims to recruit 200 people in the next 6 months.
Romania is ranking 3rd in the top Revolut markets with highest growth, 170,000 users, after UK and France. It also ranks 5th in the top of markets with highest number of users, after UK, France, Poland and Ireland. The total volume of the transactions made by Romanian users is over Euro 650M, compared to just 400M in the start of the year. Romanians are using Revolut mainly to make card payments and they buy mainly from Auchan, Carrefour, McDonalds, Ali Express, Uber and Inmedio.