Revolut, a global financial technology company announced today (Tuesday) that it is launching its business-to-business (B2B ) service, Revolut Business, in Singapore. This marks Revolut’s entry into the Asian market.

Revolut Business aims to provide Singapore companies with efficient financial management tools. The service is designed to streamline money management, allowing businesses to spend less time on administrative tasks and focus more on their core operations.

B2B Platform for Transactions

Revolut Business is now operational in over 40 markets. It processes transactions worth £13 billion (S$22.3 billion) each month, adding an average of 20,000 new enterprises each month. The platform supports hundreds of thousands of active businesses globally in managing their finances.

The B2B platform offers features such as multi-currency accounts, virtual and physical debit cards, real-time spending reports, and multi-user management. It supports over 25 currencies and allows access to over 150 currencies at the interbank rate without hidden fees.

This setup aims to reduce costs on international transactions and facilitate global business operations.

James Gibson, Head of Revolut Business, said: “Revolut Business addresses current pain points experienced by Singapore businesses head-on. Launching Revolut Business in Singapore is a pivotal step in empowering local businesses to navigate the complexities of global payments.”

Offering Business Trials

In Singapore, Revolut Business will be available through four plans: Basic, Grow, Scale, and Enterprise. Transactions exceeding these limits will incur a 0.6% markup. Revolut has experienced growth in Singapore since its launch in 2019, with annual revenue more than doubling between 2022 and 2023.

Revolut Business has generated considerable interest, with over 1,500 businesses already on a waitlist. To mark the launch, Revolut is offering a three-month trial of either the Grow or Scale plan to businesses in Singapore.

The introduction of Revolut Business adds to Revolut Singapore’s range of financial products, which includes solutions for everyday payments , international transfers, multi-currency cards, investment products, and a Revolut card for minors. This launch aligns with Revolut’s aim to establish itself as a comprehensive financial app in the Singapore market.