Revolut
British financial technology company
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| December 2024 | Reported having 50 million registered users globally. |
| October 2024 | Named in more fraud complaints in the UK than any major bank, sparking debate on the effectiveness of its security controls. |
| August 2024 | Revolut announced a secondary share sale that increased its company valuation to $45 billion, up from the previous $33 billion valuation in 2021. |
| August 2024 | Preparing for a potential IPO on the Nasdaq with an expected valuation of approximately £45 billion, with UK politicians pushing for a London listing. |
| February 2024 | Fraud complaints against Revolut nearly doubled to 1,086 reports with Action Fraud compared to the previous year. |
| 2023 | Revolut reported a 35% reduction in Authorized Push Payment (APP) fraud, but remained one of the most frequently named financial institutions in UK fraud complaints. |
| 2023 | ActionFraud received 10,000 fraud reports naming Revolut, which was 2,000 more reports than Barclays and twice as many as a comparable competitor bank. |
| 2023 | Over 3,500 complaints were made about Revolut to the financial ombudsman, more than any other financial institution that year. |
| October 2023 | Expanded stock trading services to include commission-free European stock trading in the EEA. |
| September 2023 | Launched IBANs in France, Netherlands, and Spain. |
| June 2023 | Launched 'Ultra' subscription tier for individuals in the UK and EEA, becoming their most expensive subscription at the time. |
| February 2023 | Revolut customers filed 567 fraud complaints with Action Fraud. |
| January 2023 | Revolut announced the transfer of 2 million Irish customers to a new Irish branch, moving them from a Lithuanian IBAN to an Irish IBAN. |
| September 2022 | Revolut experienced a cyberattack where an unauthorized third party accessed personal details of over 50,000 customers, though no funds were stolen. |
| September 2022 | The UK's Financial Conduct Authority added Revolut to its list of companies authorized to offer cryptocurrency products and services. |
| January 2022 | Revolut started operating as a bank in 10 additional European countries: Belgium, Denmark, Finland, Germany, Iceland, Liechtenstein, Luxembourg, Netherlands, Spain, and Sweden. |
| 2021 | Additional reports emerged of Revolut withholding clients' funds, continuing the pattern of account suspension controversies. |
| 2021 | Granted a full banking licence by the European Central Bank. |
| 2021 | Applied for banking license in the United Kingdom and a bank charter in the United States. |
| July 2021 | Revolut's Series E funding round raised US$800 million from investors including SoftBank Group and Tiger Global Management, valuing the company at US$33 billion and making it the leading European startup in terms of valuation. |
| 2020 | Launched operations in the United States and Japan. |
| November 2020 | Reached breakeven point and was valued at £4.2 billion, becoming one of the highest-valued fintech companies in the UK. |
| June 2020 | Wired published an exposé detailing Revolut's employee dismissal practices during the COVID-19 pandemic, alleging that employees in Kraków were coerced into terminations or voluntary leaving, and employees in Porto were pressured into salary sacrifice schemes to retain their jobs. |
| February 2020 | Completed Series D funding round of $580 million, increasing company valuation to £4.2 billion and becoming the UK's most valuable fintech startup. |
| February 2020 | The Daily Telegraph reported a case where Revolut suspended an account containing £90,000 for over two months, with a customer travelling 500 miles from Auvergne, France to London in an unsuccessful attempt to recover £15,000 from a frozen account. |
| February 2020 | The Times reported that Revolut suspended and closed a business account for Priorité Energie containing €300,000, preventing the energy transition start-up from paying its staff. Revolut publicly apologized and eventually resolved the issue. |
| February 2020 | Revolut completed a Series D funding round of $580 million, increasing its valuation to £4.2 billion and becoming the United Kingdom's most valuable financial technology startup. |
| 2019 | Expanded into Australia, marking first expansion outside of Europe. |
| December 2019 | Sifted published an article noting that Revolut had a higher rating than its peers on Glassdoor, potentially contradicting earlier criticisms about workplace culture. |
| October 2019 | Expanded to Singapore, becoming the company's first Asian market. |
| September 2019 | Announced expansion plans into 24 new markets across the United States, Asia, and other regions, with plans to hire an additional 3,500 employees. |
| July 2019 | Launched stock trading services, initially for 'Metal' subscription plan customers, offering commission-free trading on New York Stock Exchange and Nasdaq. |
| March 2019 | Wired published an exposé revealing controversial employment practices at Revolut, including evidence of unpaid work, high staff turnover, and employees feeling pressured to work weekends to meet performance indicators. |
| December 2018 | Received EU banking license and EMI license from the European Central Bank through the Bank of Lithuania, enabling the bank to accept deposits and offer consumer credits. |
| April 26 2018 | Revolut raised $250 million in Series C funding, achieving a post-funding valuation of US$1.7 billion and becoming a unicorn. |
| 2017 | Revolut raised $66 million in a Series B funding round, with participation from Index Ventures, Balderton Capital, and Ribbit Capital. |
| November 2017 | Revolut first applied for its EU banking license and began developing its own payment processor. |
| July 2017 | Raised $66 million in Series B funding round with the goal of expanding across Asia and the United States. |
| June 2017 | Launched Revolut Business, a subscription-based app for businesses in the UK and Europe, offering multi-currency IBAN accounts for holding, exchanging, and transferring money in 25 currencies. |
| June 2017 | Suffered a major outage with card processor Global Processing Services, causing card payment failures. |
| March 2017 | Experienced a card payment system outage along with other companies like Monzo. |
| 2016 | Completed Series A funding round, raising over £6.75 million and reaching a total valuation of approximately £42 million, with around 300,000 users processing nearly £1 billion in transactions. |
| July 2015 | Revolut raised £1.5 million during a seed funding round, initially based in Level39, a financial technology incubator in Canary Wharf, London. |
| July 1 2015 | Revolut was founded by Nikolay Storonsky and Vlad Yatsenko, launching a smartphone app with a pre-paid Mastercard for spending money abroad using interbank foreign exchange rates. |
This contents of the box above is based on material from the Wikipedia article Revolut, which is released under the Creative Commons Attribution-ShareAlike 4.0 International License.