Revolut Business celebrates 3 years - and 500K business customers

James Gibson

 · 09/03/2020  · 09/03/2020

Revolut Business just turned three years old. With the business landscape more challenging than ever, we’re incredibly proud to have grown our Revolut Business community to 500k business customers. Since our launch in 2017, we’ve been helping businesses of all sizes, all industries – all around the world – to get more from their business account.

One place to manage all things business

Revolut Business helps customers get more from their business account with a powerful set of tools on web and mobile. With these innovative solutions, our customers spend less time on admin and more time focused on what’s important - their business goals.

"Revolut Business really is decades ahead of the competition."
– Adela Fischerova, Finance Operations Lead, Slido

To celebrate 500k businesses customers, we’ve launched several new products, updated our interface and our navigation, added more mobile functionality  – and launched dark mode. As we hit this milestone, we thought we’d take some time to highlight how our international community of businesses has been growing and achieving more with Revolut Business. Here’s a quick recap of how we’ve helped 500k businesses customers get more from their business accounts – and how we’re preparing for the future.

Faster, easier business accounts

With Revolut Business customers can easily exchange, send and receive money in 28 currencies at the real (interbank) exchange rate – and they can get set up quickly.

For Helena Hudson, Founder of The Real Eating Company, speed turned out to be a make-or-break factor in setting up their business account:

“Thanks to Revolut Business, an unexpected problem post-lockdown was solved for us which other banks couldn’t help us with. Opening an account was straightforward and fast.”

Local and international payments at great rates

For years, Revolut Business’ stand-out feature has been our competitive exchange rates and commitment to having no hidden fees. Our customers have access to local account details in EUR, GBP, AND USD, and can transfer money in local currencies as well as send and receive funds for free between Revolut accounts around the world. For Alison Ettridge, CEO and Founder at Talent Intuition, this means saving money, pure and simple:

“Using Revolut Business has enabled us to make significant savings on bank fees and FX rates. We’ve minimised the risk associated with invoicing and making payments in multiple currencies.”

With our Payments tools, you can set your own rules for payments approval – including spending limits for each team member – and easily schedule payments, recurring transfers or direct debits. Plus, with the latest iteration of the app, we’ve refreshed the payments page to make it easier for you to get to what you need.

Smart company cards

Our company cards physical and virtual cards allow you to stay on top of your spending, pay abroad like a local, and manage your recurring payments. For Gavin Clark, founder and CEO of Remote Solutions, company cards were a game-changer:

“It was a breath of fresh air. Having an online tool which allowed us to instantly see the transactions that were being made... We could monitor the spend and have control of it. And then in terms of the admin, it just cut the workload down, almost by half immediately.”

Plus, as part of our latest refresh, you can also now order cards on mobile.

Give your team access to the tools they need

Collaboration has always been core to the Revolut Business experience, and we’ve recently made it even easier with Teams. Teams is perfect for companies of two - or two thousand. You can add as many people as you need, and view their access and activity all in one place. Best of all, you can easily control your team’s access by assigning roles and granting permissions from everything from payroll and expenses to company cards.

Stay in control of your subscriptions

Launched this year and still in beta mode, Subscriptions helps you stay in control of your recurring payments from a single dashboard. It’s the easier, more secure way to pay for software, and professional services. With Subscriptions, customers can save more by reducing unnecessary spend – easily track, spot duplicates, or cancel unused subscriptions.

Save time with innovative expense management

Say goodbye to chasing paperwork – your team submits expenses via the mobile app, you simply review and approve. For Alex Hoye, Co-Founder and CEO of Faction Skis, our tools made it easy for his entire global team to use the same expense management platform:

“The ease of use is crucial for our entire team to use it consistently - from our on-site film director, to our Chinese marketing manager and Colorado sales rep.”

Plus, you can make life even easier when you sync your expenses with Xero – or easily export to a spreadsheet for use with your preferred accounting software.

Embrace automation with Connect

Our ever-expanding Connect marketplace will save you time every day with seamless integrations. Businesses on Revolut can connect seamlessly with accounting software like Xero, QuickBooks, Sage and more. Plus, businesses can easily automate their processes – without the need for bespoke engineering – with easy app integrations, including Zapier and Slack.

Save with Rewards you'll actually use

Newly available in the mobile app, you can save money with Rewards. Enjoy offers and discounts on products and services from trusted partners like Apple, Google, Samsung, Deliveroo and more. Explore offers spanning hardware, travel, plus marketing, finance, legal, and operations services.

What’s next for Revolut Business?

We’ve been hard at work on a new look and feel for Revolut Business, as well as some exciting upcoming product launches. And, in combination with our other recent announcements about Open Banking, additional currencies, SEPA instant payments, and an expanded Connect and Rewards, you’ll be able to save even more time and money in 2020.

But, the work doesn’t stop here. We’re already working hard on even more exciting new features – stay tuned for even more exciting updates coming soon.

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