On Monday, the 30th of September 2019, UK-based digital banking app Revolut Ltd., headquartered in London and US-based payment processing behemoth, Visa Inc. had issued a public statement saying that the fintech firm Revolut would hire roughly 3,500 staffs as early as by next month, as the London-based fintech firm had been drawing up a plan to expand into 24 new markets.
In point of fact, latest move of Revolut, one of the next-gen digital-only payment processing company offering financial services including a prepaid debit card, cryptocurrency exchange, currency exchange alongside peer-to-peer payments, came forth as part of a larger attempt of the British fintech firm, as it had been planning to take on traditional heavyweight banks.
Besides, according to Revolut’s Monday’s (September 30th) statement, latest deal of the fintech company would expand an existing contract with the US-based credit card issuer Visa Inc., while a Visa-Revolut JV had agreed to an expansion of its business in Europe, Australia, United States.
Aside from that, adding that the company had been aiming to expand into Singapore by year-end with Japan and Canada to follow, Revolut CEO and founder, Nikolay Storonsky said in an interview with a press agency late on Monday (September 30th), “We are around 1500 people now and by summer next year we plan to be around 5000.
” Nonetheless, Revolut’s expansion in to new markets would be subject to regulatory approvals, industry analysts said.