Fintech startup Revolut is opening a small tech hub in Berlin. There’s already a plethora of fintech skill sets in Berlin due to it’s place with N26. Revolut is already planning to acquire 80 employees in the beginning for a variety of tech jobs, from software engineering to facts science, product and increase.
Although this isn’t basically hiring talent in other cities. Revolut plans to customize their product services excursively for the German market, and greater generally Europe.
in many ways, Revolut still appears like a British app. as an instance, if you wish to exchange your card PIN code, the business tells you to use an ATM to change it. here’s with no trouble not possible in Germany, France and a lot of European markets.
And the group in Berlin will additionally work on Revolut’s commission-free inventory trading feature, a kind of Robinhood competitor for Europe. The company is also engaged on an app for infants, might be as a substitute for a first checking account.
There are currently 150,000 Revolut clients in Germany. . The enterprise could have a native advertising and communications group to extend more aggressively in that market.
It’s still tough to create a worldwide fintech app that works all around the area. individuals manipulate their funds in different ways counting on the country you reside in. And fintech startups are also realizing that now that they have got a great product providing at home.
Revolut is finishing the same talent repository as Germany fintech unicorn N26, albeit West says they are “not looking to necessarily steal from a particular company.”
Furthermore, Revolut is bringing the fight to N26 as part of their mission to grow the business in Germany. Thus Revolut has around 250,000 customers in Germany, lagging France, Spain, and Italy. A team in the new office will target growth in the domestic market.
“I believe there’s plenty of room for multiple players,” West said. “I don’t believe in this logic that only one fintech can dominate and control.” Ultimately, more competition means increased consumer choice he stated.
“There is an incredible amount of technical talent in Berlin, as we begin to scale our operations globally and expand our range of services, finding this kind of talent will be essential,” said Vlad Yatsenko, co-founder and CTO at Revolut. “We’re excited to begin our investment in Germany and create even more jobs in Berlin’s vibrant fintech ecosystem.”
Revolut currently has an estimated 150,000 customers in Germany, and plans to grow and hire a local marketing and communications team to further extend its customer base in Germany in the neat future.