Revolut, a fintech firm valued at $5.5 billion, plans to launch in India in 2021. Over the next 18 months, India is the first country on Revolut's expansion radar.
In a probe, Nikolay said that it expects to expand to other countries such as
He has an eye on Brazil and Mexico in America besides Asia.
India is the first nation on Storonsky's mind for the next 18 months. He believes our market is the most. And the UPI provides crucial aid to our payment startups in India. He believes the sector is ready for fusion.
He also claims that launching a new payment firm in India in 2021 is a clever idea. PhonePe, Google Pay, and Paytm process over 93 percent of all UPI logs.
"You can build a US account in one click if you're in India. If you want to buy a US stock like Apple, you can do so at the two banks rate," he added.
He has cause to be keen about India. India's fintech sector is worth $100 billion. Revolut's fortunes may boost by India. The firm brought in 162.7 million in sales in 2019. Revolut will have to think of buying a set fintech player. the Indian fintech has three firms
He said that a fintech merge could happen in the next five years. The firm intends to invest up to $25 million and employ up to 200 in India. He has confirmed that his firm would first offer a free plan. And the subscription plans will come later. The basic product is free and helps users to handle their income. It also helps to send and spend money abroad.
Revolut has one regular package and three options. It ranges from 12.99/ month to 12.99/ month. He confirmed that his firm would conduct a broader scan later.
Subscriptions account for just a tiny part of Revolut's sales. The other utilities account for 75%.