In much of Europe, though, Revolut is a consumer staple. More than half the population use the company’s app in Ireland, where Revolut is a verb for sending payments. But it’s more than just a Euro Venmo. Formed in 2015, Revolut expanded from offering prepaid debit cards for backpackers to a litany of financial activities, from crypto trading to hotel booking to pet insurance. It plans to add mortgage lending next year. Revolut, which received a banking license in Europe in 2021, and came under European Central Bank supervision earlier this year, counts 45 million customers in 38 countries. About 1 million of those users are in the US, but some of the startup’s key backers aren’t pressing for urgent expansion there.

https://www.bloomberg.com/news/newsletters/2024-07-31/revolut-charges-toward-global-fintech-leadership-without-us-presence?sref=EcccZSTc