In addition to a redesign and new user interface, most of the the enhancements are geared toward improving transparency and efficiency. The new app now provides previews of exchange rates for all 90 available currencies. Sending money to bank accounts is easier, and users can now create PINs without first having to use a MasterCard-approved Chip & Pin ATM. Revolut has also added tutorial screens that display when the app is first installed.
Pictured: Revolut CEO and founder, Nikolay Storonsky, and CTO Vlad Yatsenko demonstrating Revolut at FinovateEurope 2015 in London.
Founded with a mission to eliminate the fees that often accompany both spending and transferring money, Revolut has been used by more than 80,000 people in 150 countries. More than $180 million has been transacted via the app, saving users an estimated $15 million. With the RevolutCard, users can make purchases worldwide in any one of 90 different currencies. And with the Revolut app, users can make instant money transfers through SMS, social media, and email, all without fees or a bank intermediary.
Revolut’s announcement was accompanied by a handful of “Fun Revolut Statistics” from 2015. These metrics give some interesting insights into how the technology has been used since it was launched last summer.
A few highlights:
- Most populous EU country where Revolut has users: Germany
- Least populous EU country where Revolut has users: Gibraltar
Top 5 most popular countries for the Revolut community to visit (based on transactions)
Top 5 most popular retailers with the Revolut community (based on transactions)
- Ali Express
- Universal Studios
- Microsoft Store
- Amazon UK
Founded in December 2013 and headquartered in London, Revolut demonstrated its Personal Money Cloud at FinovateEurope 2015. The company made its public launch in July, at the same time announcing a successful $2.3 million venture round led by Balderton Capital.