Mikko Salovaara, the Group Chief Financial Officer at Revolut, is leaving the mammoth of a fintech after more than two years of joining, citing "personal reasons."

The Departure of Revolut's CFO

"I am grateful for the opportunity to serve as Group CFO at Revolut and remain confident in the firm's future success," Salovaara wrote in a statement sent to the media houses.

The departure came when the London-headquartered digital bank faces scrutiny as auditor BDO could not verify three-quarters of the revenue reported by the fintech in its delayed 2021 accounts. The company is also seeking a banking license in the UK, for which it applied in 2021.

Revolut clarified that Salovaara's departure is unrelated to the concerns flagged by BDO about the company's financials. The company further stressed that Salovaara voluntarily resigned, not being fired, and it could not divulge his 'personal reasons' behind the move publicly. It is unclear if Salovaara is joining any company or has other plans.

"I thank Mikko for his contribution and wish him well on his next steps," said Revolut's CEO, Nik Storonsky.

A Profitable Fintech

Revolut is a massive company offering digital banking services in the UK, Europe, and several other countries. Its offerings include no-fee current accounts, foreign exchange, stock, and cryptocurrency trading, among others. The valuation of the fintech was slashed by 46 percent to $17.7 billion earlier this year by Schroders, one of Revolut's most steadfast investors.

Established in 2015, the company became profitable last year with a pretax profit of £59.1 million on revenue of £636.2 million. The profitability came a year after with a pretax loss of £205 million.

Meanwhile, Revolut witnessed several senior departures last year. Some of them are Revolut's UK Chief Risk Officer, Victoria Stubbs, UK Head of Regulatory Compliance Justine Wootton, and Mathew Seneviratne, who was the UK Money Laundering Reporting Officer.