Revolut will tap into Stripe’s international reach to ramp up its expansion into new international markets, including Brazil and Mexico.
Stripe, the financial infrastructure platform, will back the fintech for payment processing in the UK and Europe. Leveraging Stripe’s infrastructure in global markets, Revolut aims to provide frictionless payments that will meet local preferences.
Revolut’s David Tirado, vice president of business development explains: “Revolut builds seamless solutions for its customers. That means access to quick and easy payments and our collaboration with Stripe facilitates that. We share a common vision and are excited to collaborate across multiple areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18 million customers.”
Revolut, founded in 2015 has since reached over 500,000 businesses in over than 200 countries and territories. It offers a variety of services including accounts, insurance, trading, invoicing, BNPL products, and now in-person payments. Recently, Revolut has scaled up its business in a deal with Salesforce, planning to hire 2,800 new sales agents.
Eileen O’Mara, EMEA revenue and growth lead at Stripe, states: “Revolut and Stripe share an ambition to upgrade financial services globally. We’re thrilled to be powering Revolut as it builds, scales, and helps people around the world get more from their money.”
Additionally, Stripe rolled out new banking solution in the UK, EU, and Mexico in June 2022, offering bank transfers with automated reconciliation.