Revolut Business expanded the availability of its “borderless financial super app for businesses” to Singapore and is looking to add other markets.
“We’re here to empower Singaporean companies of all sizes, including 1,000+ who signed up to our waitlist,” the company said in a Tuesday (Aug. 6) post on LinkedIn.
With Revolut Business, companies can access more than 150 currencies at the interbank rate; hold more than 25 currencies in their account; set limits, track spending, and freeze and unfreeze cards in-app; invite their whole team, set permissions and manage expenses on the go; and employ custom spending rules, automated accounting and other tools that offer them full financial control, according to the post.
Available on both mobile and web, Revolut Business helps startups, scale-ups and enterprises improve how they accept and make payments, control spending and empower their teams, according to the company’s LinkedIn profile.
Revolut Business added in the post, “Where should we launch next?”
It was reported in May that Revolut, a London-based FinTech, set its sights on the Asia-Pacific (APAC) region for its global expansion strategy.
Charlie Short, head of growth at Revolut, said at the time that the company is committed to accelerating its growth in markets such as Australia, New Zealand and Singapore.
In September, Revolut Business added a feature called RevTags, a free and instant global payments network available to businesses within the Revolut network and designed to address the difficulties surrounding cross-border payments. It is available to Revolut’s retail and business customers worldwide.
The feature makes the process of making transactions more streamlined and efficient by allowing businesses to enter the RevTag of an individual or business in the Revolut Business app, rather than having to enter IBANs or additional beneficiary details.
Revolut reported in July that its revenues jumped 95% last year, from $1.1 billion in 2022 to $2.2 billion in 2023. The company also added 12 million new customers, bringing its total customer base to 45 million as of June.
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