At the end of the year, it became known that Revoult had registered a legal entity in Ukraine. That is why the question of a full-fledged launch of the company on the territory of the country arises more and more often. Investor Nikita Izmailov N1 said a few words regarding the possible turn of events in this situation.
What is Revoult?
It is a modern banking service without branches. The main products are a smartphone app and a card. The peculiarity is that the card can be linked to several accounts in different currencies. That is, if the payment is made in euros, the money will be deducted from the appropriate account, and if there is a shortage, it is possible to convert and conduct the operation.
How does the brand increase its presence in Ukraine?
In the middle of last year, the firm opened 25 vacancies in the capital. It is not surprising, because there are very smart and competent professionals, so in the future hiring can only continue. Of course, mostly we are talking about remote positions.
Why exactly at this point is the Ukrainian market profitable?
There are several reasons:
- The co-founder has a lot of experience and connections in order to expand and scale. The more so that major competitors today simply do not consider the Ukrainian market.
- The constant flow of funds from Europe. Every year the indicator only increases.
- New funds. Due to investors it is possible to reach new heights, and to enter entirely new markets.
What difficulties can arise?
Already today, Revoult can be compared to Monobank in terms of the number of users. As for the market as a whole, the competitiveness is lower, and there is no opportunity to provide services like those of the big banks.
That is, without cooperation with big banks, Revoult has little chance to launch. Better yet, it should be a full-fledged banking group with a lot of experience.
In fact, it's a frustrating situation for the firm, because there are not even their own experts in the market. So you need to pay attention to local financial institutions with owners who may have ambiguous backgrounds.
If you take the ideal situation, then Revoult needs partners with a crystal clear reputation, and it is best that the capital is completely foreign. But there are not many banks of this kind in Ukraine.
In other words, today there are two ways to develop the situation. Revoult may set up its own bank to hire specialists over time. This will allow you to gradually enter a new market. This is a plan for several years. Another option is to acquire a small bank.