Revolut’s chief executive says the fintech company is “aggressively doubling down” on its presence in the B2B market as the unit’s annual revenue exceeds $500 million.
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Revolut has so far attracted 250,000 businesses to its offering since launching in 2017, with 20,000 new businesses joining every month.
Revolut operates in 40 markets and is preparing to launch its Singapore operation as global monthly processed transaction volume reaches £17 billion.
James Gibson, Head of Revolut Business, said: “Built by our experience of serving millions of retail customers, Revolut Business is growing rapidly. Over the last year, we’ve made great progress toward our goal of being the leading financial automation system for businesses. With the support of a significant and growing number of customers behind us, we are doubling down on B2B and are poised to revolutionize business accounts for even more companies around the world.”
Gibson talked about the release of a new product, BillPay, which integrates with major accounting platforms QuickBooks,
“Invoice management is complex and requires businesses of all sizes and their accountants to track invoices across a range of different interfaces and platforms to ensure suppliers are paid,” says Gibson. “With Revolut BillPay, businesses save time with better global bill payment transparency, simplified workflows and seamless integrations with their accounting software, so they can focus on growing their business.”