The company aims to reach 11,500 staff by the end of the year.
It will focus on sales, customer support, and financial crime divisions.
In a move
that goes against the recent wave of layoffs in the financial and tech sectors, the London-based fintech firm Revolut has announced plans to increase its global
workforce by approximately 40% in 2024. The company, which recently surpassed
the 10,000-employee mark, aims to reach 11,500 staff by the end of the year.
Revolut Defies Industry
Trend, Plans 40% Staff Increase in 2024
Revolut's
expansion strategy will focus on bolstering its sales, customer support, and
financial crime divisions. Over 70 positions are currently available in the UK
alone.
Francesca
Carlesi, the CEO of Revolut UK, emphasized the importance of recruiting top talent
to support the company's continued growth: "We are delighted to
be expanding across our global markets, including the UK, with hundreds of new
roles across a range of specialties, all at a time when others are cutting
back."
This
announcement is a surprise, given the recent trend of job cuts and hiring
freezes among major financial and tech companies. Global banks slashed
more than 60,000 positions in 2023, while 259 tech firms have eliminated nearly
75,000 roles since the beginning of 2024, according to the Layoffs.fyi tracker.
The
deteriorating condition of the fintech industry, including in the UK, is
evidenced by the latest reports on the sectorโs financing. According to Tracxn
data, funding for tech startups in the UK fell 63% in 2023 to $4.2 billion.
Ambitious Plans vs
Financial Challenges
Revolut's
ambitious hiring plans occurred despite the company's recent financial challenges.
In 2022, the firm reported a loss of ยฃ25 million due to increased administrative expenses, including staff wages, which resulted from doubling its global
headcount to 6,000 during the year.
Revolut is
exploring new ways to maintain sustainable profitability, which includes
developing a media strategy focused on generating revenue by leveraging
customer data for advertising partnerships. This was expected to generate $370 million by 2026 from ads.
The
company's valuation has fluctuated in recent years, reaching a peak of $33 billion
in 2021 before dropping to as low as $18 billion in 2022. However, by the end
of last year, Schroders' implied valuation had risen to around $26 billion.
Securing a
UK banking license from the local regulators would significantly boost Revolut's profitability, enabling the firm to offer products such as
mortgages and credit cards to its customer base in the UK. The process usually
takes about a year, but in the case of Revolut, it has already been dragging on
for three years.
In a move
that goes against the recent wave of layoffs in the financial and tech sectors, the London-based fintech firm Revolut has announced plans to increase its global
workforce by approximately 40% in 2024. The company, which recently surpassed
the 10,000-employee mark, aims to reach 11,500 staff by the end of the year.
Revolut Defies Industry
Trend, Plans 40% Staff Increase in 2024
Revolut's
expansion strategy will focus on bolstering its sales, customer support, and
financial crime divisions. Over 70 positions are currently available in the UK
alone.
Francesca
Carlesi, the CEO of Revolut UK, emphasized the importance of recruiting top talent
to support the company's continued growth: "We are delighted to
be expanding across our global markets, including the UK, with hundreds of new
roles across a range of specialties, all at a time when others are cutting
back."
This
announcement is a surprise, given the recent trend of job cuts and hiring
freezes among major financial and tech companies. Global banks slashed
more than 60,000 positions in 2023, while 259 tech firms have eliminated nearly
75,000 roles since the beginning of 2024, according to the Layoffs.fyi tracker.
The
deteriorating condition of the fintech industry, including in the UK, is
evidenced by the latest reports on the sectorโs financing. According to Tracxn
data, funding for tech startups in the UK fell 63% in 2023 to $4.2 billion.
Ambitious Plans vs
Financial Challenges
Revolut's
ambitious hiring plans occurred despite the company's recent financial challenges.
In 2022, the firm reported a loss of ยฃ25 million due to increased administrative expenses, including staff wages, which resulted from doubling its global
headcount to 6,000 during the year.
Revolut is
exploring new ways to maintain sustainable profitability, which includes
developing a media strategy focused on generating revenue by leveraging
customer data for advertising partnerships. This was expected to generate $370 million by 2026 from ads.
The
company's valuation has fluctuated in recent years, reaching a peak of $33 billion
in 2021 before dropping to as low as $18 billion in 2022. However, by the end
of last year, Schroders' implied valuation had risen to around $26 billion.
Securing a
UK banking license from the local regulators would significantly boost Revolut's profitability, enabling the firm to offer products such as
mortgages and credit cards to its customer base in the UK. The process usually
takes about a year, but in the case of Revolut, it has already been dragging on
for three years.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
UK's Reimbursement Plan Shakes Up Payments Industry
Hannelรฉ De Necker, CEO, IFX Brokers | FMAS:24
Hannelรฉ De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors ๐คฉ Starting off strong with Hannelรฉ De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
๐ฃ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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๐ Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors ๐คฉ Starting off strong with Hannelรฉ De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
๐ฃ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
๐ Facebook: https://www.facebook.com/FinanceMagnatesEvents
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โถ๏ธ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now ๐ https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
๐ฃ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
๐ Facebook: https://www.facebook.com/FinanceMagnatesEvents
๐ธ Instagram: https://www.instagram.com/fmevents_official
๐ฆ Twitter: https://twitter.com/F_M_events
๐ฅ TikTok: https://www.tiktok.com/@fmevents_official
โถ๏ธ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now ๐ https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
๐ฃ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
๐ Facebook: https://www.facebook.com/FinanceMagnatesEvents
๐ธ Instagram: https://www.instagram.com/fmevents_official
๐ฆ Twitter: https://twitter.com/F_M_events
๐ฅ TikTok: https://www.tiktok.com/@fmevents_official
โถ๏ธ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaโs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now ๐ https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
๐ฃ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
๐ Facebook: https://www.facebook.com/FinanceMagnatesEvents
๐ธ Instagram: https://www.instagram.com/fmevents_official
๐ฆ Twitter: https://twitter.com/F_M_events
๐ฅ TikTok: https://www.tiktok.com/@fmevents_official
โถ๏ธ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaโs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now ๐ https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
๐ฃ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
๐ Facebook: https://www.facebook.com/FinanceMagnatesEvents
๐ธ Instagram: https://www.instagram.com/fmevents_official
๐ฆ Twitter: https://twitter.com/F_M_events
๐ฅ TikTok: https://www.tiktok.com/@fmevents_official
โถ๏ธ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
๐ฃ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/company/financemagnates/
๐ Facebook: https://www.facebook.com/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
๐ Subscribe to our YouTube channel for more!๐
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
๐ฃ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
๐ LinkedIn: https://www.linkedin.com/company/financemagnates/
๐ Facebook: https://www.facebook.com/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
๐ Subscribe to our YouTube channel for more!๐
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa