Revolut, a high growth UK fintech start that lets users swap dozens of currencies and send/receive money, is now break-even and focused on international expansion. The company boasts 1.5m accounts, a 50% increase in just the last two months.
While the company offers its services in Europe, its chief executive Nikolay Storonsky said is planning to expand into the US, Australia and Asia this year. He said around 800,000 people use the app every month and 350,000 daily, with the company signing up 6-8,000 new accounts a day. Revolut raised £50m last year from investors including Index Ventures, one of London’s biggest technology start-up backers. While cutting losses should allow the company to reduce its dependence on new investors, Mr Storonsky said the company could take more funding if it came at the right price and that profitability