Who founded Revolut?

Revolut was founded by Nikolay Storonsky and Vlad Yatsenko. Mr Storonsky is Russian-born, but carries a British passport and has lived in the UK since the age of 20.

Mr Yatsenko is Ukranian British, and has lived in the UK since 2010.

Mr Yatsenko and Mr Storonsky created start-up Revolut and launched it in July 2015 at the Level39 tech accelerator in Canary Wharf. 

Prior to setting up Revolut, Mr Storonsky worked for Credit Suisse and Lehman Brothers, while Mr Yatsenko spent five years building financial systems for major investment banks. 

The duo said that they started Revolut because they were frustrated with the fact that traditional banks were taking so long to introduce digital banking services for younger customers, who prefer to access most services through their smartphones. 

Mr Yatsenko serves as Revolut’s chief technology officer, while Mr Storonsky is chief executive of the firm.

How big is Revolut?

As of March, Revolut says it reached 4.5 million customers – 1.6 million customers are located in the UK alone.

Revolut is currently valued at $1.7bn (£1.3bn) from its most recent fundraising. 

The three-year-old firm’s growth has been impressive – its customer numbers trebled to 1.2 million in 2017, while revenues increased five fold to £12.8m.

In September, Revolut said 7,000 new accounts were being opened a day, and that it was processing $3bn in transactions a month.

Article: BBC News. 02.04.19. https://www.bbc.com/news/business-47768661. Read 06.10.19.

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