Revolut was launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, as a digital alternative to the big banks. While the fintech initially drew in customers by allowing them to spend and transfer money abroad without rubbish fees, the company has since attracted over 8 million customers in Europe with its spending overviews, budgeting controls, savings features and cryptocurrency exchange.

To date, Revolut has raised approximately $340 million in funding, from notable venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.