Financial infrastructure platform for businesses Stripe revealed on Thursday that Revolut will use it to support payments in the UK and Europe and accelerate its expansion into new markets.
Revolut is a European fintech firm founded in 2015. It initially launched in the UK with money transfer and exchange services and it now has dozens of products. Revolut offers its customers accounts and insurance services, trading and invoicing. The fintech firm now provides money management services for 18 million customers and 500,000 businesses in over 200 countries and territories.
According to the official announcement, as part of its ambitious growth plans, Revolut will soon launch in Mexico and Brazil. The firm will use Stripe’s infrastructure and international footprint to enter these and other new markets more efficiently. The partnership will allow Revolut to offer its customers a seamless payment experience that matches their local payment preferences.
David Tirado, vice president of business development at Revolut, said:
Revolut builds seamless solutions for its customers. That means access to quick and easy payments and our collaboration with Stripe facilitates that. We share a common vision and are excited to collaborate across multiple areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18 million customers.
The press release also noted that Stripe and Revolut will also explore opportunities to expand their partnership and deliver innovative new payments products.
Eileen O’Mara, EMEA revenue and growth lead at Stripe, added:
Revolut and Stripe share an ambition to upgrade financial services globally. We’re thrilled to be powering Revolut as it builds, scales, and helps people around the world get more from their money.
Earlier in May, Stripe released an ecosystem of third-party tools – Stripe Apps and the Stripe App Marketplace.