Revolut is set to double its global footprint, pushing into 24 new markets thanks to a global deal with Visa.
Revolut says the expanded relationship with Visa will bring its bank-like product offerings to five new regions, reaching 24 new markets for a total of 56 markets globally. Under the terms of the agreement, Revolut will primarily issue Visa-branded cards in the global expansion.
Jack Forestell, chief product officer, Visa, says: “With Visa being accepted at nearly 54 million merchant locations across more than 200 countries, we have the scale, experience and expertise to help fintechs like Revolut go global.”
The agreement will see Revolut expand beyond its European stronghold and Australian outpost, beginning with launches in North America, Singapore and Japan.
Revolut is also to go on a major hiring spree as it expands into new markets. Chief executive and founder Nikolay Storonsky told Reuters: “We are around 1500 people now and by summer next year we plan to be around 5000."