The company is currently signing up over 120 businesses per day to Revolut for Business accounts across the UK and Europe, with 60,000 already signed up. Existing business users have already sent over $350m worth of transfers since the service launched last June, saving UK and European businesses over $14m in fees to date.
Revolut Connect complements business banking by allowing companies to easily connect and build integrations for the most popular business apps, 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 recently announced its Open API, allowing businesses to automate daily tasks and internal workflows with actions such as scheduled and mass payments, adding counterparties, as well as webhooks so businesses are notified of new transactions. Revolut is also working to make the API available to developers, so that they can leverage its capabilities to create their own integrations and apps to share with Revolut’s customers.
Traditional banks have historically been closed to the outside world: at Revolut we want to do the opposite. We want to help businesses safely connect their finances to the tools they love. At the same time, we want to work with developers and innovators that want to build on top of our platform to create useful apps and integrations for businesses. This is why we’ve built Revolut Connect.