Revolut “aggressively doubling down" on B2B market

Revolut says annual revenues from its business accounts have topped $500m, as it launches an automated payment function which it says will help its business clients simplify bill paying.

While to many Revolut, recently valued at $45bn, is known as a retail challenger bank, it also has a B2B offering, called Revolut Business, which it launched in 2017.

Revolut Business offers a range of products including cards, savings accounts, spending control tools and payment tools to customers from sole traders to large businesses.

Today, the Nik Storonsky-fronted Revolut, one of the UK's most famous startups, said that annual revenues from Revolut Business have now topped $500m. It said it hit the $500m miliestone this summer.

This amounts to between 15 and 25 per cent of overall Revolut revenues.

Monthly transaction volume is at $17bn while Revolut says it is onboarding more than 20,000 business customers each month and that now hundreds of thousands of active businesses are using Revolut Business.

Revolut, whose B2B offering is live in 40 markets, has now launched Revolut BillPay, an automated payment function which it says will speed up the bill-paying process for its customers to suppliers around the world.

Integrated with accounting software like Xero and QuickBooks, Revolut BillPay “can minimise manual effort, benefit from spend controls and approval rules, and gain complete oversight of their operations, freeing up time for business growth”.


James Gibson, head of Revolut Business, said:

“With the support of a significant and growing number of customers behind us, we’re aggressively doubling down on B2B and are ready to revolutionise business accounts for even more businesses around the world”.