“We don’t always want people to stay at Revolut forever", according to a Revolut executive, who said the fintech was a "training ground" for the founders of tomorrow.
Speaking on a podcast, Michael Bodansky, Revolut’s global head of corporate communications, said:
“Revolut has increasingly become a training ground for people that then go on to do other super-interesting things.”
Bodansky pointed to a yearly report published by US VC Accel which highlighted European tech firms whose alumni go on to launch startups.
“Revolut consistently comes in the top or one of the top positions in that report,” he said.
According to Accel, as of 2023 Revolut alumni have founded 34 startups, meaning former Revolut employees have founded more startups than any other European privately held company.
Bodansky adds:
“Revolut has increasingly become a training ground for people that then go on to do other super-interesting things.
“Even though we do have a certain amount of turnover, we don’t always want people to stay at Revolut forever because it’s great if people then go and start their own businesses, they raise capital in their own right and they go on to innovate.
“Sometimes still within fintech but also there have been people who have left Revolut and gone on to start energy tech businesses or climate change tech businesses.
“It’s great if we are kind of equipping the next generation of entrepreneurs to go on and do great things.”
Examples of ex-Revolut employees launching startups include Alan Chang and Charles Orr launching renewable energy startup Fuse and Ayelen Denovitzer and Shailendra Sason launching crypto startup Solvo.
Elsewhere in the podcast, Bodansky talked about how Revolut was leveraging AI, saying "It’s a bit too soon to say for us”.
He said:
“It is something that we are looking at. We are looking at using AI in terms of helping us improve and develop our customer service chats.
“We have real people behind our customer chat. But also there is a lot of customer support that can be done by just finding the right answer very quickly for customers.
“I think 2024 and beyond will be when things will really speed up.”
Bodansky was speaking on the Spin Unspun podcast hosted by Instinctif Partners, the communications firm.
Lead image: Revolut's office in Canary Wharf. Photo: Uncredited.
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