How Revolut Business enabled AltoVita to save in bank charges and exchange rates

Karolina Saviova, Co-Founder & COO of AltoVita shares her story about how Revolut Business enabled her company save in bank charges and exchange rates. With Revolut Business, and our multi-currency accounts, you can hold, transfer and  pay in 28 different currencies – allowing you to pay vendors in their local currency, and secure the best rates every time.

What is AltoVita?

AltoVita has been serving the global mobility sector across 70+ destinations by providing business travel and relocation housing solutions. As a verified accommodation platform, the focus is on delivering a great user experience and autonomy throughout the entire mobility cycle to clients from multinational companies, expats and frequent travellers. Using our collaborative B2E platform means that corporate clients can save up to 30-40% in accommodation charges and their employees have a faster & better experience.  

Our vetted accommodation is provided by a verified network of property management companies and serviced apartments operators around the world with a portfolio of fully furnished and beautiful homes suitable for extended stays. We see ourselves as a collaborative tech platform, helping our clients to save costs and hassle related to travel and corporate relocation.

As a COO of AltoVita, I am responsible for operations, business development and overseeing our global supply strategy and quality assurance. I believe that implementing business operations in a startup requires support from reliable and cost-effective third party providers, so instead of spending time and money on admin tasks, the team can laser focus on growing the business.

What are our challenges?

High exchange rates negatively impact growth of internationally trading small and medium enterprises (SMEs). As a global accommodation provider with a portfolio of 10k properties operated by over 300+ property management companies around the world, inevitably, we need to process many international payments in different currencies on a daily basis.

And then we discovered Revolut Business

Before we implemented Revolut Business, high exchange rates and bank fees were negatively impacting our growth outside of the SEPA region. When reviewing our accounts, we identified that we were losing a fortune from high exchange rates and bank fees, as well as losing time managing accounts in different countries & currencies. It was then when we realised that traditional banking solutions weren’t suitable for our global business model and that we needed to actively look for alternative solutions offering better business currency exchange rates.  

3 years ago, our CEO & Co-Founder Vivi Cahyadi discovered Revolut when she was looking for a multi-currency solution in the UK. When she found out that Revolut also launched Revolut Business, we realised that this could be the right solution for our international operations given that we take in payments and organise payouts in multiple currencies. Saving on business exchange rates would become much easier.

Outcome

Using Revolut Business has enabled us to save a significant amount in bank charges and exchange rates. What’s even more innovative is the ability to maintain various currencies all in one easy-to-manage dashboard.  We also love the combination between the intuitive user journey and 2-factor authentication as an additional security measure.

So, Revolut business solutions have helped AltoVita to save money and time, allowing us to focus on what truly matters for the business. I would recommend Revolut business accounts to  internationally trading hospitality businesses looking to implement savvy and reliable banking solutions.