Fintech startup Revolut plans to start operating in the U.S. and Singapore before the end of 2019. 

VC.ru reports with reference to Reuters that the startup intends to enter into other Latin American and Asian markets in 2020. Apart from the mentioned regions, Revolut wants to get into 24 new markets in total. According to Revolut co-founder and CEO Nikolay Storonskiy, the expansion will depend on permits from regulators.

By the summer of 2020, Revolut plans to increase the staff from 1,500 to 5,000 people. Cooperation with Visa is not exclusive, but at least 75% of all Revolut cards will be issued in collaboration with that payment system.

According to Storonsky, the entry to new markets can double or even triple the amount of Revolut’s clients in 2020. Currently, the company has 8 million clients. Storonsky has noted that clients usually keep around EUR 1,000 on their Revolut accounts and the total amount of money in deposits makes about EUR 8 billion as of the moment.

A British banking service founded by Russians, Revolut has been in the market since 2015. The company’s main product is currency exchange without banking commission fee, and in August of 2019 the startup launched a stock trading service.

Since its foundation, Revolut has raised USD 336.4 million.

The partner of Fintech section is