Revolut Business turns 5: how we helped 3 customers go global

Richard Johnson

 · 08/10/2022  · 08/10/2022

As we celebrate Revolut Business’ 5th birthday, one of the best gifts we could ask for is our customers’ success. We spoke to three fast-growing scale-ups who’ve been with us for some of their major milestones about how they overcame barriers to enter new markets.

Our goal is the same today as it was back in 2017: to enable our customers to do business globally, from day one.

And in the last five years the unique challenges your business naturally faces haven’t really changed, whatever your industry or stage of growth. And the markets you want to enter still present unique hurdles, too.

There’s no off-the-shelf solution to ‘going global’ – but there are a few ways to make life easier for your finance team.

We caught up with three Revolut Business customers from around the world to learn more about the market entry obstacles they faced as they joined us within the last five years – from currency to supply chains, payroll to marketing – and how they overcame them.

ThePower Business School: Juggling multiple currencies

Based in Spain, but connecting teachers and students from all over the world, ThePower Business School struggled with multiple currencies both coming in from customers in different markets, and going out to suppliers and teachers.

Their problem
Currency rates were painstakingly negotiated with each of the five local banks they worked with, often at considerable cost – and transactional data had to be manually entered to their accounting software, with little to no automation in place.

How they found their solution with Revolut Business
The school now uses a variety of multi-currency accounts in Revolut Business to hold, spend and exchange money in more than 10 currencies. With competitive exchange rates and low fees, ThePower saved time and money by making the switch.

“Opening the account was a mind-blowing change. It helped us combat our toughest challenge: making payments all over the world. It’s the only solution that helped us go global.”
– CFO Ignacio Marcos Peréz

Tropic Feel: Building supplier trust

Generating trust with suppliers and retailers around the world can be difficult, particularly for new companies just starting out in e-commerce.

For e-commerce businesses, the supply chain is king. For Tropic Feel, a European sustainable travel gear brand with deep roots in South East Asia, the challenges are particularly pronounced.

Their problem
If payments or invoices are delayed, or are not able to be standardised across markets by the team’s finance department, relationships between suppliers can suffer badly.

How they found their solution with Revolut Business

“When you’re starting out, it’s hard to build relationships in a transparent and fair way. With Revolut Business, you can run transactions all around the world – at pace – to be as flexible as possible with suppliers”.
– CEO and Co-Founder Alberto Espinos

For companies like Tropic Feel, it’s about generating a feeling of familiarity, too. All-new ‘borderless’ account details mean that, using Revolut Business, they can send and receive USD and EUR like a local (read: without any of the traditional hassle).

“Now, we work with several suppliers around the world, and ship worldwide – that’s a lot of currencies to manage. But instead of it being a problem, we’re able to keep expanding. Now, we’re growing 80% year-on-year.”
– CEO and Co-Founder Alberto Espinos

Deel: Payroll on a global scale

Deel is a leading global compliance and payroll solution helping businesses hire anyone, anywhere. Its technology and platform offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to build and manage a global team.

Deel’s 7,500+ business customers can hire independent contractors and full-time employees in over 150 countries compliantly in mere minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign, and send compliant localised contracts, and pay teams in more than 120 currencies with just a click.

Their problem
For Deel, it’s crucial to make sure workers get paid on time, regardless of where they are in the world.

“The toughest thing, hands-down, is paying people in different countries timely and efficiently.”
– Christina Puder, Deel’s Product Manager for Payments

How they found their solution with Revolut Business
Deel needed a flexible and reliable solution to help team members get paid on time, anywhere. Using the Revolut Business API, contractors can get paid via Revolut instantly without paying any international transfer fees.

“Contractors on the Deel platform love the flexibility Revolut withdrawals provide. Instead of waiting 3-5 days for a SWIFT transfer to hit their bank account, they can get paid instantly and without the fees.”
– Christina Puder, Deel’s Product Manager for Payments

Deel also uses the Revolut Business platform to run payroll for employees based in the UK.

“With Revolut Business, I can use the Payroll feature to set everything up. And now, with bulk uploads, I can pay a large number of people in one click.”
– Jonathan Muyal, Deel’s Payroll Manager

Are you ready to go global?
If you’re a business owner with global ambition, look no further. Sign up to Revolut Business today do business globally from day one, anywhere. Hit the link below to get started 👇

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