Revolut Business sees 11-fold revenue growth in Australia

Revolut Business has reported significant growth in Australia, with a marked increase in both revenue and transaction volume.

Since launching in Australia in 2023, Revolut Business has experienced a pronounced growth trajectory. In the latest quarter, the company reported an 11-fold increase in revenue and a 10-fold surge in transaction volume compared to the previous year.

Revolut Business was recently awarded the B2B Innovation accolade at the 2024 Finder Innovation Awards. This distinction highlights its app's efficiency in revolutionising financial management for Australian businesses.

The firm's expansion in the Asia-Pacific region includes its recent entry into the Singaporean market. Integral to this regional growth is the appointment of Sara La Mela as Head of APAC Sales, a former Canva executive, who is based in Sydney, Australia.

Sara La Mela, Head of APAC Sales for Revolut Business, remarked, "Throughout my career, I've worked for some of the world's leading software providers and the pace in which Revolut Business has been able to deliver immediate and tangible benefits for customers is second to none. With the support of our growing customer base behind us, we're laser-focused on transforming the way Australian businesses manage their finances so they can get the most out of their money."

James Roberts-Thomson, Head of Revolut Business in Australia, stated, "Australia is Revolut's fastest-growing market in the retail space, and we are well on track to replicate this success in the B2B space. We have our ears close to the ground, always listening to our customers and constantly seeking ways to enhance our offerings to better serve their needs. We are humbled by the incredible growth we've seen so far and we know that this is only the beginning."

Revolut Business, launched in 2017, continues its international growth, expanding its operations into 40 markets globally. The company's recent introduction in Singapore is also part of its strategy to provide modern financial solutions to regions underserved by traditional banking institutions.

Building on its success, Revolut Business plans to develop further products. Upcoming innovations include the release of Revolut Business 5, which aims to improve user experience across mobile and desktop platforms, enhanced card customisation options for businesses, and streamlined invoicing processes.

Manuel Soto Gaspar, Head of Operations at Revolut Business, commented, "Revolut Business is rapidly expanding, driven by our mission to transform business finances worldwide. In the past year, we've made major progress toward becoming the top finance automation platform, with recent launches in Singapore and strong growth in Australia, as the APAC region continues to play a pivotal role in Revolut's global expansion strategy."

"Supported by a growing customer base, we're doubling down on investment in the region and remain committed to delivering innovative B2B solutions. Our success is built on years of experience serving millions of retail customers, and now we're ready to transform the future of finance for even more businesses globally."

Globally, Revolut Business now boasts an annualised revenue exceeding USD $500 million, with more than 20,000 new companies joining its platform each month. Its business services are a part of Revolut's broader Australian portfolio, which provides financial management and investment solutions.