Revoult launches in Brazil

FinTech Revoult has launched in Brazil, saying that it aims to capitalise on the number of remittances and the increasing adoption of digital financial services in the country.

Revolut said its global account will offer foreign exchange and remittance services in 27 different countries around the clock. It claims that local competitors only offer exchange accounts in dollars or euros in different accounts during business hours.

The company added that around 45 per cent of Brazilians use digital accounts as their primary bank account and use around five different applications to manage payments transfers and investments.

Commenting on the news Nik Storonsky, co-founder and chief executive officer, said: “Brazil is an exciting market for Revolut and holds enormous potential for our global expansion.

“Our mission is to unlock a borderless economy with financial products that are accessible and easy to use and that allow our customers to use their money efficiently. We will start with the global account and crypto investments, but this is just the beginning,” he added.

Announcing the expansion, the company said that it has appointed Glauber Mota as chief executive for Brazil. He joins from Latin American investment bank BTG Pactual.

    Share Story:

Recent Stories


Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.