Revolut is set to launch a standalone app focused on wealth management as Europe’s most valuable fintech takes aim at Robinhood and Etoro in the competitive retail investment market. The new Revolut Invest app will offer access to over 4,000 financial instruments, including US and European stocks, bonds, commodities, and exchange-traded funds, according to the London-based company.
Equity and bond investments will come with a flat fee of either 0.25% or €1. While Revolut already provides retail trading through its main app, this new platform is designed to attract users who have yet to engage with its broader banking services.
Revolut Invest will also feature Trading Pro, a premium subscription offering reduced commission fees, higher order limits, and advanced analytics. The app is currently being piloted in Greece, Denmark, and the Czech Republic, with plans for a broader rollout across other European Economic Area countries later this year.
Revolut aims to introduce the app in additional markets, having already secured necessary approvals in the UK, US, Singapore, and Australia. These product developments align with Revolut’s ambition to become a “super app,” further challenging global banks that offer a wide range of financial services.
In the retail investment sector, Revolut faces competition from the likes of Robinhood, Etoro, Trading 212, and Freetrade.
Founded in 2015 as a digital payments and money transfer app in the UK, Revolut has since expanded its services globally, offering everything from cryptocurrency trading to eSIM plans. The company recorded a record pretax profit of £438m in 2023, driven by rising interest rates and a surge of nearly 12 million new retail customers. Revolut expects its user base to exceed 50 million by the end of this year.
Revolut’s challenge to UK high street banks gained momentum earlier this year after securing a UK banking licence, albeit with temporary restrictions. This milestone followed more than three years of regulatory delays, including audit concerns and criticism of the company’s corporate culture. The licence will enable Revolut to hold deposits and expand lending in the UK, where it already serves over nine million customers, and is seen as a stepping stone to securing a similar licence in the US.
