Revolut's Grand Strategy for the US Market: A Fresh Approach in 2021
Financial technology advancements and innovations
Embrace the new wave of digital banking as Revolut sets its sights on cracking the elusive US market, all while bucking traditional trends.
In the banking realm, Revolut has been extension-minded, broadening its services in various corners of the globe, including the US, Poland, Lithuania, and Ireland. However, it's essential to clarify that, contrary to popular belief, a major credit card launch was not the focal point of Revolut's US expansion strategy in 2021.
Instead, Revolut has been grooving to a different beat. It's been partnering with domestic banking institutions to offer debit cards and diversify its financial offerings. To ensure smooth sailing, the company has been honing its act to follow US financial regulations meticulously. Yet, it chose not to grab a US banking license of its own just yet.
Now, you're probably wondering, "How is Revolut stretching its legs in the US without a license?" Fret not, for it isn't unheard of. Revolut has been wisely riding on the coattails of its banking partners to put its services up for grabs in the US.
In the grand scheme of things, Revolut has been investing heavily in its global expansion, which saw a monumental $800 million influx during its Series E funding round in July 2021. This injection of cash boosted the company's value to a staggering $33 billion[2].
So, what can we expect from Revolut in the US? Instead of banking on a high-profile credit card launch, the company has been working tirelessly to fortify its existing services and gather a broader user base through tactical moves and judicious investments[1][2].
In summary, while Revolut may have been a late bloomer in the US market, it's safe to say that its innovative strategy and hefty war chest are raring to take on the competition. Maybe it's time to buckle up and join the ride!
- Revolut, in its grand strategy for the US market in 2021, is not focusing on traditional credit card launches but instead partnering with domestic banking institutions to offer debit cards and diversify financial offerings.
- To navigate the US market successfully, Revolut is carefully following US financial regulations and has chosen not to acquire a US banking license at this time.
- Despite not having a US banking license, Revolut is able to offer its services in the US by partnering with existing banking institutions.
- In July 2021, Revolut raised an impressive $800 million during its Series E funding round, significantly boosting the company's value to $33 billion.
- In the US, Revolut is not prioritizing a high-profile credit card launch, but rather working to strengthen its existing services and expand its user base through strategic moves and judicious investments.
- As a result of its innovative strategy and substantial funding, Revolut is well-positioned to compete in the US finance industry and may soon become a significant player in the fintech sector, particularly in crypto and ICO trading.
