Revolut

Fire.I.Am

Have any Revolut users decided to take them up on their investment offer? I'm new to investing but I'm interested in this.

dubrov

I think it has potential but they give very little details in relation to their profitability.

Sure, they have some serious growth but if I created an app that gave away free money, I am sure the user base would grow rapidly.

I suspect they may need to start charging to make the service viable. At that point there might be a mass exodus if it is too high.

Without any details I won't be investing anyway.

daveharnett

dubrov wrote: »

I suspect they may need to start charging to make the service viable. At that point there might be a mass exodus if it is too high.

It looks like they are going to try to stay "free" to the regular user, and take whatever they can from the retailer's end of the transaction. I see them as one of several contenders nipping at stripe/paypal's heels.

With PDT2 and NFC payments arrived, I'd expect a lot of hype, bubblenomics, silliness, and growth in this area over the next few years, as the dotcoms come to steal the bankers' lunch. There will be a few big winners and a lot of losers.

If you fancy a long shot, it's better value punt than the lotto. I wouldn't take it any more seriously than that without a lot of research.

daveharnett

dubrov wrote: »

I think it has potential but they give very little details in relation to their profitability.

It'd be pure speculation at this point. I'd bet that each customer costs them money at the moment. Right now they are burning investment capital to heat the office and grow their user base to a useful critical mass.

As long as they are seen to play their cards right, to be growing, and to have a plan to make money, the market won't expect them to turn a profit for another few years.

Cute Hoor

Fire.I.Am wrote: »

Have any Revolut users decided to take them up on their investment offer? I'm new to investing but I'm interested in this.

This is an interesting marketing ploy by Revolut, they are keeping £1m for existing customers but you need to pre-register and declare how much you want to invest, you are then put on an investor list, the investors with most contacts on Revolut go to the top of the Investor List, right now there are 640 people with 15 or more of their contacts on Revolut. If none of your contacts are on Revolut you can forget it, if you want to get on the List you will need to get at least 15 of your contacts to sign up. Good move on Revolut's part. I was going to invest but there is no way I'm going spamming my contacts.

Alligator Wine

This app has saved me a good few quid over the past year. Used it throughout Brazil as my main method of payment. Looked at their deck and growth looks very strong, and this has been without any proper marketing campaign behind them. Seem to have a strong team behind them ex Yahoo, Llyods, Morgan Stanley, Visa, Goldman Sachs. Yet to break into a **** load of countries and currencies. Business sector is a huge part of their plans.

New enough to investing myself, but this is exactly the kind of company I'd like to take a punt on. Trouble I'm having is the same as Cute Hoor in that I don't have many friends on it and don't particularly want to start spamming them.

So I was thinking if anyone is interested in getting involved then PM me and we can add each other as contacts to improve our chances of qualifying for this round of investment.

Speckydodge

Alligator Wine wrote: »

This app has saved me a good few quid over the past year. Used it throughout Brazil as my main method of payment. Looked at their deck and growth looks very strong, and this has been without any proper marketing campaign behind them. Seem to have a strong team behind them ex Yahoo, Llyods, Morgan Stanley, Visa, Goldman Sachs. Yet to break into a **** load of countries and currencies. Business sector is a huge part of their plans.

New enough to investing myself, but this is exactly the kind of company I'd like to take a punt on. Trouble I'm having is the same as Cute Hoor in that I don't have many friends on it and don't particularly want to start spamming them.

So I was thinking if anyone is interested in getting involved then PM me and we can add each other as contacts to improve our chances of qualifying for this round of investment.

If you're stilll interested PM me

Tedious Bore

Hey, is this investment option still open anyone know?
I tried following this link but just sends to homepage.... invest.revolut.com

I want to get a second additional card on the same account. there doesn't seem to be an option in the card section where it says it should be. have they stopped this at the moment or something?

edit ->

I had to update the app on my phone to get this feature. old app didn't have it.

seems like the wrong forum also - mod please delete.

august12

glasso wrote: »

I want to get a second additional card on the same account. there doesn't seem to be an option in the card section where it says it should be. have they stopped this at the moment or something?

edit ->

I had to update the app on my phone to get this feature. old app didn't have it.



seems like the wrong forum also - mod please delete.

Yes, I think they are charging for this now

august12

august12 wrote: »

Yes, I think they are charging for this now

yeah - had to pay €12 (incl €6 delivery).

Donal55

Should be interesting to see how STG fairs now that a GE has been called.

Dardania

Apparently another crowd funding round coming up now: https://www.reuters.com/article/us-britain-fintech-revolut-idUSKBN19W2U0

Might take a punt myself depending upon what is on offer...I've used the service lately in Scandanavia - did not miss a step - very useful.

I think the last funding round was on https://www.seedrs.com/invest

Revolut now valued at 1.7 billion dollars after latest funding round!

Did anyone invest?

Cute Hoor

LONDON, June 7 (Reuters) - British digital-only bank Revolut said on Thursday it is building a commission-free trading platform on its app, its latest bid to use technology to undercut traditional financial services.

Users, who can already use the app to manage their money and spend abroad with minimal fees, will be able to invest in stocks from British and U.S. listed firms as well as exchange-traded funds and options.

Revolut, which launched in 2015, said it wants to break down barriers to entry in investing, which include high costs, confusing interfaces and complicated sign-up processes.

Nikolay Storonsky, founder and CEO of Revolut, said with brokers charging as much as 5 pounds ($6.71) per trade and offering clunky technology, there was "massive" room for improvement.

"To put it bluntly, we are going to cause the same disruption in investments as we have done in banking."

Revolut is one of a number of app-only banks and other financial technology firms that have sprung up in Britain, aiming to take business away from established providers with slick technology that is easy and cheap to use.

It said has now signed up two million customers across Europe, representing a 300 percent increase in user growth over the last year.

While there are some fintech firms focused on commission-free trading, such as Robinhood in the United States, Revolut will be the first digital bank to integrate an investment platform into its app alongside everyday banking services.

The move pits it against the investment platforms of established financial services groups like Hargreaves Landsdown , Barclays (LSE: BARC.L - news) and Close Brothers (LSE: CBG.L - news) .

Revolut said users will be able to buy and sell listed stocks in seconds, without paying commission.

A spokesman for the firm said the product would generate income from premium subscriptions, which will give perks to paying customers, as well as margin trading, securities lending and interest on cash held.

Dardania

Interesting one. With them being commission free, I wonder if the ETF selection will be ones which have higher TERs, to enable revolut get some commission from the ETF provider

el diablo

I'm trying to register an account with Revolut using my Irish address. It won't accept my Dublin postcode though (I've tried it in various different forms but to no avail). Anyone know of a solution to this?

cillwal

If you're looking to sign up to Revolut, use this link for a free card on sign up:

revolut.com/?p=RevolutforIreland

- Free to sign up
- Takes a few mins
- Free card (usually €6) with above link
- Will save you cash if you're travelling
- Will save you € if buying off amazon UK
- It's really handy

Charlie-Bravo

Just got this card last month after the EU got banks to show me how much each foreign transaction was costing. Wasn't aware the margin was that much!!

I could have saved the 6 euro if I saw the above post, but after having this card for a month, I've saved a pretty penny. I've yet to tap into all the different services and benefits the app provides.

PHG

Have used Revolut for over 2 years. Has saved me a good bit as paid in £ and bring my wages over every month to €.

The Irish banks are a joke for charges and general services and companies like Revolut and N26 are making the difference. The only issue I have is that Revolut does not count as a credit rating the way your normal Bank would, even though it is backed by a bank (LLoyds I think but open to correction). It is a wallet not a bank account AFAIK.

I switch between N26 and Revolut as N26 is an actual account and I can use it for a mortgage sometime in the future. End goal is would be have Revolut (Spend a lot of time in UK) and once N26 or someone similar offer other services like Mortgage/loans/Credit Cards, go with them and dump the Irish banks as their charges are shocking. There is definitely room for competition there!