Fintech firm Revolut plans to hire 1,500 staff by end of year
By Elizabeth Howcroft
LONDON (Reuters) – British fintech company Revolut has added nearly 2,000 employees since the start of 2024 and plans to hire 1,500 more by year-end, boosting its workforce by 40% overall, it said in a statement on Wednesday.
THE DETAILS
Revolut says it has 10,000 employees globally, up from “just over 8,000” at the start of the year. It plans to increase its workforce further to 11,500 by the end of 2024, a 40% boost overall.
The majority of new jobs will be in sales, customer support and anti-financial crime teams.
WHY IT MATTERS
Revolut, which operates a financial services app, was once ranked the UK’s most valuable start-up with an approximate $33 billion valuation in 2021.
The company applied for a UK banking licence more than two years ago but is still awaiting approval.
The financial technology industry has slumped as funding from increasingly risk-averse investors has dried up globally. Various technology firms, banks and fintechs have announced job cuts in recent years.
KEY QUOTES
Francesca Carlesi, CEO of Revolut UK: “We are delighted to be expanding across our global markets, including the UK, with hundreds of new roles across a range of specialities, all at a time when others are cutting back.”
CONTEXT
Revolut has previously changed the number of employees it says it has.
In its delayed 2022 accounts, the company revised down its 2021 employee numbers to 2,365 from 4,655. The company said the numbers were restated to more accurately reflect employment changes throughout the year.
In September 2019, Revolut CEO Nikolay Storonsky told Reuters the company had 1,500 people and planned to be around 5,000 by the summer 2020.
(Reporting by Elizabeth Howcroft; Editing by Sinead Cruise and Jan Harvey)
