Boosting its workforce amid aggressive expansion plans will likely help Revolut avoid scandals in the future:
. For its expansion plans, Revolut has partnered with Visa, which will power 75% of Revolut's cards moving forward.The neobank currently has 1,500 employees and caters to over 8 million customers, who hold an average of around €1,000 in their accounts; of note, Revolut it reached 7 million users at the start of September, indicating rapid user growth. It wants to expand from its current markets in Europe and Australia to eight new ones this year, including Brazil, Russia, Japan, and the US.
Expanding into new markets will likely take plenty of resources — and a stronger workforce will help support these plans. Revolut will either have to get licensed in the new markets or partner with existing banks in the countries to leverage their banking licenses. Additionally, it'll need more staff, such as developers, in order to tweak its offering for the different markets and adjust its app to ensure that it captures the unique demands of consumers across different regions.
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