Revolut, a global neobank with 45 million users, has launched a B2B platform. Revolut Businesswill be launched in Singapore, marking its first market in Asia.
The platform aims to provide Singapore businesses of all sizes with efficient and affordable financial management tools to facilitate their global business operations.
Revolut Business is designed to be a comprehensive financial management solution that cuts administrative tasks and allows businesses to focus on growth.
The platform currently operates in over 40 markets, processing GBP13 billion (S$22.3 billion) of transactions globally every month.
Revolut onboards an average of 20,000 businesses each month, serving hundreds of thousands of active businesses around the world.
Singapore businesses have access to Revolut Business. Four Plans: Basic, Grow, Scale, Enterprise.
These plans offer features such as multi-currency accounts, virtual and physical debit cards, real-time spending reports, support for over 25 currencies, and access to over 150 currencies at interbank rates.
The Basic plan is free, while paid plans start from S$15 per month, with the Grow, Scale and Enterprise plans starting at S$15, S$84 and S$417 per month respectively.
To celebrate the launch, Revolut is offering businesses in Singapore a three-month trial of its Grow or Scale plan.
Revolut’s expansion into Singapore follows significant growth in its retail services. Doubling annual revenue The company expects to see rapid user adoption across its product portfolio through 2022 and 2023.
James Gibson, Head of Business at Revolut, said:
“We have received demand to launch Revolut Business in Singapore from many local businesses, as well as from our existing clients in Europe, the US and Australia who have operations in Singapore.
“Launching Revolut Business in Singapore is an important step in helping local businesses navigate the complexities of international payments. We’ve created a cutting-edge, seamless and affordable solution to help businesses of all sizes grow and succeed.”
Mr Raymond Ng, chief executive officer of Revolut Singapore, added:
“We are thrilled to launch Revolut Business in Singapore. As a major international trading hub, Singapore is deeply connected to the global economy, conducting billions of transactions every year across multiple currencies.
“By offering a transparent, cost-effective and technologically advanced payment solution, we aim to reduce the unnecessary costs that Singapore businesses incur in FX trading, not just saving them money but also enhancing their ability to compete and succeed on the global stage.”
Featured Image Credit: Free Pick
