The digital banking alternative now has two million customers in Europe and is working on a commission-free trading platform that will allow customers instantly invest in companies.
The new platform will allow customers to instantly explore and invest in UK and U.S 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, confusing trading interfaces, and tedious onboarding 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% 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 Revolut is only currently available in Europe, it is expected to launch in the United States, Canada, Singapore, Hong Kong, Australia and New Zealand in the next few months.
Nik Storonsky, founder & CEO of Revolut said: “To put it bluntly, we are going to cause the same disruption in investments as we have done in banking. 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.”
Revolut launched in July 2015 and has since signed up over two million customers across Europe and processed more than 100 million transactions, with a total volume transaction of over $16 billion to date.
Revolut has raised a total of $336m from some of the most notable investors including DST Global, Index Ventures, Balderton Capital and Ribbit Capital.
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