Our culture is ‘about getting s**t done’: The Revolut founder on why his people work 12-13 hours a day


Revolut Nikolay_CEO & Founder v2

LONDON — Nikolay Storonsky was in a hurry.

The founder and CEO of Revolut, one of the fastest growing fintech startups in the world, whizzed through a presentation meant to last half an hour in around 15 minutes at the LendIt Europe conference in London this week.

He had a plane to catch. But doing things quickly is just Storonsky’s style.

So far this year, Revolut, which started as a foreign exchange card linked to an app, has launched business accounts, loans, loyalty offers, mobile phone insurance, a bill splitting feature, a subscription “Premium” account, a chatbot, and more. Oh, and raised $66 million.

“We are not afraid of doing new things,” Storonsky, 34, told Business Insider after his LendIt talk on Tuesday. “That’s what entrepreneurship is. We’d rather try then fail rather than wait, analyse, think, then don’t do anything. There is a good phrase: paralysis through analysis. We are not these type of people.”

Projects can take just one month to go from an idea to reality at Revolut. Business accounts, Revolut’s thorniest problem so far, took just six months to build and launch.

This rapid work cycle has been rewarded with rapid growth. Just two years after launch, Revolut has over 900,000 retail customers and, just four months after business accounts, 16,000 companies have signed up. Venture capitalists and crowdfunding investors have also invested over $85 million.

“The vision is very simple,” Storonsky said. “At the moment in the world, all banks are very local. As a result, you always struggle with international activity. That means you always need to open new bank accounts, issue new cards, set up a new credit profile.

“Nowadays people are all international. Banks are not providing this service. The vision for us is alternative global banking. Anyone in the world can just download the Revolut app …read more

Source:: Business Insider

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