New banks

Revolut launches expense management tool for small businesses

  • Revolut continues to add functionality to its Business accounts.
  • Now, businesses can manage expenses and synch them with their accounting platform.
close

Email a Friend

Revolut launches expense management tool for small businesses

Revolut introduced a new Expense Management tool, designed to help growing businesses handle their expenses.

What’s new: UK-based challenger bank Revolut continues to enhance its Revolut for Business offering.

  • Business owners and managers can now monitor expenses in real-time with the ability to easily approve or reject team expenses
  • The Expense Management feature is available to freelancers and businesses on paid plans
  • Revolut for Business recently launched two new business account plans with no monthly fees and made changes to the pricing structure of their plans

Small business ecosystem: As part of this feature launch, Revolut has also improved its integration into small business accounting platform Xero.

  • Team members on a Revolut for Business account can upload pictures of their receipts and add expense information
  • Xero users can synchronize expense data across the two platforms, simplifying the reconciliation process

Looking to increase monetization: Revolut’s business model includes a mixture of free and premium accounts. Features like Expense Management are intended to encourage business users to pay up for added functionality.

“Small business owners deserve technology that gives them greater control over their finances,” said Edward Berks, business platform director at Xero.

“It’s no longer necessary for them to have isolated pockets of data in different accounts and Revolut’s customers will now have their expenses beautifully integrated with their accounting records in Xero. The days of paper receipts stored in shoeboxes are long behind us.”

0 comments on “Revolut launches expense management tool for small businesses”

Member Exclusive, New banks

As popularity of teen banking grows, competitors differentiate in marketing and monetization

  • Reaching teens and their parents isn't an easy lift.
  • With the increased popularity of teen banking, competition is finding different ways to market and monetize.
Rivka Abramson | January 22, 2021
New banks

Rho launches Rho AP to help its SMB customers streamline invoices and payments

  • Rho Technologies recently unveiled Rho AP to help its clients manage their accounts payable.
  • The new solution allows business users to upload, code and submit invoices for same-day approval and payment.
Rimal Farrukh | January 21, 2021
New banks

BankMobile likely to be first of many to go public this year

  • BankMobile recently went public through its merger agreement with Megalith Financial Acquisition Corp., a special purpose acquisition company.
  • As several fintech trends take hold, this may be the year for fintech IPOs.
Rivka Abramson | January 18, 2021
New banks

With OCC approval of Radius Bank, LendingClub is one step closer to becoming a marketplace bank

  • LendingClub’s merger with Radius Bank received conditional approval by the OCC.
  • The approval marks the latest stage in the acquisition which will transform LendingClub into a marketplace bank.
Rimal Farrukh | January 11, 2021
New banks

Green Dot launches Go2bank, its in-house challenger bank

  • Green Dot is best known for its prepaid cards and managed debit card programs its managed for big brands.
  • The bank has launched its own challenger bank brand to compete head on in digital banking.
Zachary Miller | January 06, 2021
More Articles