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Revolut aims to revolutionize personal finance - and thanks to a huge funding round, it's growing

1 month ago by Jon Marino in Consumer

It's a tough environment for growing startups, particularly those looking to build an app-centric product in a market that hasn't been too friendly to IPOs that depend primarily on smartphones for profitability. 

Not for Revolut ($REVOLUT), the UK-based startup that aims to displace the traditional checking and savings account for an app-based platform, which also just reeled in a half-billion dollars at a $5.5 billion valuation. 

This isn't Revolut's first fundraising round - far from it, in fact. Past backers include Balderton Capital and Index Ventures, among others. Accordingly, it's scaled up - year-over-year, the company saw headcount as tracked through employees who identify themselves as staffers via LinkedIn profiles, Revolut has grown 198%. And in terms of growth, it's thrashing Monese, a UK-based competitor. 

In 2020 alone, Revolut's app in the Apple Store has earned more than 9% growth in reviews submitted, a signal it's continuing to engage with new consumers - and, Revolut's 5.0 ratings is a signal that they're pretty happy, too. 

Think that's impressive? Next up, we've got Revolut's Google Play Store Ratings Count, which should have the biggest banks on Wall Street quaking in their Ferragamos. 

The lone piece of disappointing data comes in the form of job postings that are down 15.6% from their fall 2019 peak - our final chart, at the bottom. 

So while Revolut currently isn't growing job postings, it's still seeking hundreds of staffers. On top of that, per a Techcrunch report that accompanied news of the jumbo funding round, in 2019 it boosted total users by 169%; increased daily active customers by 380% and boosted revenue from premium plans by 154%. 

About the Data:

Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

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Jon Marino

Jon Marino is Thinknum's finance editor, covering the impacts of alternative data on public companies and investors. Prior to joining Thinknum, Jon worked in the ...

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