Revolut launches its business-to-business (B2B) offering, Revolut Business, in Singapore. This marks Revolut’s first foray into the Asian market, providing Singaporean companies of all sizes with fast, affordable, and efficient financial solutions to transform their global business operations.
Streamlined Financial Management for Businesses
Revolut Business offers a comprehensive money management solution designed to reduce administrative burdens, allowing businesses to focus on growth and innovation. Now operational in over 40 markets, Revolut Business enhances how companies manage payments, control spending, and empower their teams. With £13 billion (S$22.3 billion) worth of transactions processed globally each month, the platform is rapidly expanding, onboarding 20,000 enterprises monthly and serving hundreds of thousands of active businesses worldwide.
Advanced Features for Global Scaling
The B2B payments platform offers a variety of features tailored to help businesses scale and save. These include multi-currency accounts, virtual and physical debit cards, real-time spending reports, and user management capabilities. Businesses can hold over 25 currencies and access more than 150 currencies at interbank rates, with no hidden costs, enabling significant savings on international transactions. Additional features include corporate cards, custom spending rules, and automated accounting for complete financial control.
Flexible Plans for All Business Sizes
In Singapore, Revolut Business is launching with four plans—Basic, Grow, Scale, and Enterprise—designed to cater to businesses of all sizes. Each plan offers unlimited foreign currency exchange at competitive rates, with fee-free monthly allowances ranging from S$1,500 to S$250,000. Beyond these allowances, a 0.6% markup applies.
- Basic Plan: Free of recurring charges, providing core features for startups.
- Grow Plan: S$15 per month, with monthly or annual payment options offering up to 20% savings.
- Scale Plan: S$84 per month.
- Enterprise Plan: S$417 per month.
Rapid Growth and Adoption in Singapore
Since its 2019 launch, Revolut has experienced significant growth in Singapore, with annual revenue more than doubling between 2022 and 2023. The adoption of products like Wealth & Trading has quadrupled from May 2023 to May 2024, reflecting Revolut’s expanding influence beyond travel into everyday financial management.
Strong Demand and Launch Celebration
With over 1,500 businesses already on its waitlist, Revolut Business is set to make a substantial impact in Singapore. To celebrate the launch, Revolut is offering a three-month trial of either the Grow or Scale plan to Singaporean businesses.
Aiming for Global Competitiveness
By providing transparent, cost-effective, and technologically advanced payment solutions, Revolut Business aims to minimize unnecessary costs for Singaporean businesses, particularly on foreign exchange transactions. This initiative not only promises financial savings but also enhances the global competitiveness of local enterprises.
A Comprehensive Financial Superapp
Since its inception in 2017, Revolut Business has continually innovated, adding tools and features to meet the evolving needs of businesses. It complements Revolut Singapore’s existing suite of products, which includes international transfers, multi-currency cards, investment products, and a Revolut <18 card for kids and teenagers. The launch of Revolut Business reinforces Revolut’s ambition to become a financial superapp in the Singaporean market.
