The Financial Times has reported the challenger bank could look to buy companies hit by the pandemic.
In Brief:
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CEO Nikolay Storonsky told the paper there is a “real opportunity” for Revolut to use the crisis to its advantage.
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Revolut recently closed $500mn funding.
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It will look at services like travel aggregators which have lost customers.
What does this mean?
Storonsky says that the recent fundraise puts it in an excellent position for acquisitions, despite the slight downturn it’s seen in use of its cards. It makes sense to focus on travel-related services which fit in with Revolut’s ForEx services and other additional offerings.
