Posted on June 21, 2018 by staff

Revolut launches ‘app store for business banking’


Fast-growing FinTech Revolut has announced the launch of Revolut Connect, hailed as the “ultimate tool to complement business banking”.

The new tool allows the company’s Revolut for Business customers to easily build integrations with popular business apps to help them save time and money.

Since the launch of Revolut for Business last summer, a total of 60,000 companies have signed up for the service to date, with 120 new businesses joining each day.

Revolut Connect allows companies to connect and build integrations for business applications, including accounting platforms like FreeAgent, communication tools like Slack, apps to help with tax, payroll, expense management and more.

Apps such as Xero, Sage, FreshBooks and Quaderno are also coming soon.

“Revolut for Business was born out of our frustrations with the pains of opening and managing business accounts in the UK and abroad,” said founder and CEO Nik Storonsky.

“Businesses were being offered poor deals with hidden exchange fees and complicated, slow platform interfaces.

“Revolut Connect offers businesses a simpler, cheaper and faster alternative with popular integrations that will support them as they deliver goods and services around the world.”

Revolut said earlier this month that it had begun work on a commission-free trading platform that will allow customers to invest in companies such as Apple and Amazon.

The announcement followed news that the digital challenger bank had attracted two million customers across Europe since its launch in July 2015.

Revolut became Europe’s latest FinTech unicorn after raising $250 million in April.