Revolut's head of business says the fintech is 'agressively doubling down" on the B2B market as annual revenues at the unit surpass $500 million.
Revolut has so far signed up 250,000 businesses to its offering since launch in 2017, with 20,000 new businesses onboarding each month.
Live in 40 markets, Revolut is preparing to roll out the business line in Singapore as global monthly processed transaction volume reaches £17B.
James Gibson, head of Revolut Business, says: “Shaped by our experience serving millions of retail customers, Revolut Business is growing rapidly. In the last year, we’ve made huge strides forward in our mission to be the number one finance automation system for businesses. With the support of a significant and growing number of customers behind us, we’re aggressively doubling down on B2B and are ready to revolutionise business accounts for even more businesses around the world."
Gibson was speaking on the release of a new product, BillPay, integrated with major accounting platforms QuickBooks, Xero, and FreeAgent and designed to save time managing and paying bills to suppliers in over 150 destinations with just a few clicks.
“Bill management is complex, requiring businesses of all sizes and their accountants to track bills across a number of different interfaces and platforms to ensure that suppliers are paid," says Gibson. “With Revolut BillPay, businesses save time on global bill payments through better visibility, simplified workflows and seamless integrations with their accounting software, freeing them up to focus on growing their companies.”