04.19.2022. – Tokeportal.com, own content

Author: Áron Gere

Revolut was founded in 2015 by a team experienced in the financial sector. Founders Nikolay Storonsky and Vlad Yatsenko were frustrated with the difficulties and hidden costs associated with money transfers, so their goal in implementing the idea was to solve user-side challenges. The first version launched in 2015 became a user-friendly financial transaction app that allows sending, receiving, and exchanging money without currency markups and unexplained foreign transaction fees. This meant that Revolut entered the ranks of neobanks.

In 2016, just 10 months after its launch, the British fintech surpassed 200,000 users and processed transactions equivalent to 170 billion forints. The growth rate continued to accelerate: they were adding 1,500 new users daily, and transaction sizes grew by 36% monthly. Armed with these impressive numbers, the user-friendly transaction startup embarked on its first equity crowdfunding campaign on Crowdcube, seeking approximately 18 billion forints at a valuation of 450 million forints. The campaign was a tremendous success.

In 2017, one year after the Crowdcube campaign, Revolut launched its second crowdfunding round, this time on Seedrs, with a valuation of approximately 124 billion forints. Within less than a year, the British fintech startup increased its company valuation by over 6 times, and its user base grew to 750,000. The total capital of approximately 1.8 billion forints was raised in less than 24 hours. The campaign quickly reached its minimum goal, but Revolut declined oversubscriptions, leaving around 5.9 billion forints of additional reservations “on the table.”

Estimates suggest that Revolut currently has over 20 million users. Since 2017, when they obtained the European Challenger bank (neobank) status with the assistance of Lithuanian supervision, they underwent significant service portfolio expansions. They launched cryptocurrency trading, Revolut Premium, Revolut Business, Revolut Metal, various insurance packages, and initiated expansions in Australia, the United States, and Asia.

By 2022, Revolut, combined with its crowdfunding rounds, raised close to 600 billion forints in 15 investment rounds. In the latest round in 2021, they received 276 billion forints at a valuation of over 11 trillion forints ($33 billion), representing nearly 800 times growth compared to the 18 billion valuation from five years prior.Consequently, a 20,000 forint investment in 2016 is now worth approximately 15 million forints. The 2017 investment of 20,000 forints also multiplied a hundredfold over five years, now exceeding 2 million forints.

Don’t want to miss the next astonishing opportunity? The “Revolut of loyalty cards,” RECASH, recently launched its equity crowdfunding campaign on Tokeportal.com. The Hungarian fintech company brings the next generation of loyalty cards and loyalty programs with its literally effortless cashback service. After a one-minute registration, users receive cashback on purchases from all partners without any further action required.

Furthermore, RECASH provides an unprecedented, sharply targeted marketing system for its partners, allowing them to identify and target even their competitors’ customers easily.

By leveraging the European Union’s PSD2 directive on open banking data flows, RECASH takes loyalty programs and targeted marketing to the next level. The RECASH crowdfunding campaign is currently ongoing, aiming to raise 80-120 million forints in exchange for a stake between 4% and 5.8%— The initial valuation of Revolut during its first stage was only a fraction of its current value, at approximately 1.9 billion forints.