With over 3 million users, Revolut is already one of the fastest growing FinTech companies in the world. Now the team wants to expand to more products and more regions in its quest to upend the consumer financial sector.
“We’re just getting started,” said Dimitris Litsikakis, country manager Revolut Greece. Speaking to BlockPublisher’s media partner at Decentralized 2018 event, EAK TV, Litsikakis said the team’s ability to integrate various services on the same platform and make the onboarding process hassle-free was a key driver of growth.
“Anyone can sign up and start trading cryptocurrencies in less than 5 minutes,” he said. “We’ve got a broad range of integrated services that promise convenience. A user can buy crypto, insure their device, and send fiat currency across borders seamlessly.”
The UK-based payment provider launched cryptocurrency purchases last year. Developers and users have had to face immense volatility since then. Recently, the controversial hardfork of Bitcoin Cash is worrying long-term investors. Litsikakis claimed Revolut is waiting for the dust to settle to protect users on its platform. “Anyone who has BCH in Revolut will not be impacted at all,” he said.
Litsikakis also said that Revolut’s cryptocurrency users were mainly concentrated in a few key regions. With over 1 million users, the UK is the main market, followed closely by France and Poland. But he said other markets were starting to look interesting.
“Malta, for example, has a lot more crypto penetration and what’s happening here is very exciting,” he said. “In my opinion, they’re leading the way.”
After raising $336m at a $1.7bn valuation, the Revolut team is aiming to expand the service to over 100m users within the next 5 years. Litsikakis said the team was looking closely at expanding in the US, Canada, Hong Kong, Japan, Australia, Singapore, Mexico and Brazil, among others.