Showing no signs of slowing down, newly minted FinTech unicorn Revolut has begun work on a commission-free trading platform following the news that they hit two million customers in Europe.
The new platform will see customers able to instantly invest in companies such as Apple and Amazon.
The move will soon allow customers to instantly explore and invest in UK and US listed companies as well as other instruments such as ETFs and options.
The company intends to make investing more affordable and accessible for everyone, democratising investing in stocks by breaking down the barriers of entry such as high fees, painful and confusing trading interfaces and tedious on-boarding processes.
With many traditional brokerages charging as much as £5.00 per trade, Revolut sees an opportunity to cause serious disruption and make investing open and affordable to everyone – a similar approach that they took with their banking and cryptocurrency products.
In the last 12 months alone, Revolut has increased customer acquisition by over 300 per cent to over two million customers, firmly positioning the London-based company as the fastest growing FinTech in Europe.
In addition, the company has released further data showing a monthly transaction volume of $2 billion, with customers making over 100 million individual transactions.
Revolut also reports that approximately 900,000 of their customers are UK-based, with France and Poland emerging as the second and third largest markets respectively.
While the hot FinTech is only currently available in Europe, Revolut is expected to launch in the United States, Canada, Singapore, Hong Kong, Australia and New Zealand in the next few months.
“To put it bluntly, we are going to cause the same disruption in investments as we have done in banking,” said Revolut founder & CEO Nik Storonsky.
“Brokers are charging people as much as £5.00 per trade and the user interfaces are typically clunky, slow and confusing for consumers. The pain points are clear for us and the room for improvement is massive.
“In true Revolut fashion, we will make investments cheap, intuitive and completely mobile, which is exactly what our audience has come to expect from us.
“This is another step towards our goal of building a one stop shop where people can manage their entire financial lives, from day to day banking to cryptocurrencies and now investments.”