New banks

Growing distribution for its business accounts, Revolut partners with WeWork

  • Challenger banks are looking aggressively to expand distribution.
  • Deals like this one help Revolut get in front of its target audience.
Growing distribution for its business accounts, Revolut partners with WeWork

Fast growing challenger bank Revolut is hungry for distribution. The UK upstart may be signing up hundreds of businesses every day for its Revolut for Business accounts, but it wants more.

Revolut is partnering with WeWork so that Revolut for Business account holders get 3 months free hot-desk space at a WeWork of their choice.

Deals can boost distribution:  WeWork provides more than 400,000 members around the world with workspace and services through both physical and virtual offerings. The shared workspace leader rents office space primarily to startups, freelancers and small businesses — Revolut’s target audience for its business accounts.

“We’re delighted that through our exciting collaboration with WeWork, companies and freelancers using our next generation business accounts will be able to build and grow in WeWork’s beautiful workspaces, saving so much time and money in the process,” said Jamie Devlin, head of business development at Revolut.

Revolut for Business?: Revolut’s core banking product is free and aimed at consumers. The challenger bank also offers Revolut for Business, a premium account that offers a multi-currency current account, instant money transfers, and prepaid business cards.

Revolut claims it has 80,000 Revolut for Business customers paying a minimum of £25 each month.

New banks

Revolut opens up its metrics kimono, plans to 5x its daily account opening by the end of 2019

  • Revolut shares some of its growth numbers.
  • They're big and growing, and the company wants to double its staff to keep up.
Michael Deleon | February 21, 2019
New banks

Starling closes investment round, prepares for international expansion

  • UK-based Starling Bank just raised some cash to expand internationally.
  • The challenger bank wants to take its retail, business, and B2B banking services abroad.
Michael Deleon | February 13, 2019
New banks

Monzo is testing business accounts

  • Monzo wants to get into the business banking space.
  • It's rolling out its business accounts slowly.
Zack Miller | February 12, 2019
New banks, Podcasts

Introducing The Challengers Podcast: Banks go global, apps as financial hubs, and Marcus is a player

  • Challenger banks are expanding all over the world.
  • Our new podcast, The Challengers, will go in-depth and explore digital banking trends.
Zack Miller | February 08, 2019
New banks

Introducing Tearsheet’s The Challengers newsletter on digital banking

  • Challenger banks are expanding all over the world.
  • Tearsheet keeps you on top of what's happening in digital banking.
Zack Miller | February 05, 2019
More Articles