REVOLUT LTD
Company Information
- Company Number
- 08804411
- Registered Address
- 7 Westferry Circus, Canary Wharf, London, England, E14 4HD
- Status
- Active
- Employee Count
- 1446.0
- Turnover
- 743867000.0
- EBITDA
- -14784000.0
Additional Details
- Website
- https://www.revolut.com
- Company Type
- Private limited Company
- Incorporated On
- 6 December 2013
- Nature of Business
- 62090 - Other information technology service activities
- Industries
- Financial Services,Software
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 53 | 42% | 40% | 18% | 69% |
| 01 Jan 2023 - 30 Jun 2023 | 07 Jul 2023 | 50 | 55% | 26% | 19% | 76% |
| 01 Jan 2022 - 31 Dec 2022 | 07 Jul 2023 | 43 | 65% | 21% | 14% | 85% |
| 01 Jan 2021 - 31 Dec 2021 | 07 Jul 2023 | 27 | 82% | 10% | 8% | 88% |
| 01 Jan 2020 - 31 Dec 2020 | 07 Jul 2023 | 44 | 68% | 9% | 23% | 84% |
| 01 Jan 2019 - 31 Dec 2019 | 07 Jul 2023 | 27 | 68% | 9% | 23% | 84% |
Company Summary
Revolut Ltd is a British financial technology company that offers banking and money transfer services through its mobile application
The company was founded in 2015 and is headquartered in London, United Kingdom
Sustainability is a key focus for Revolut, and the company has implemented various initiatives to reduce its environmental impact
This includes using eco-friendly materials for its physical cards, promoting paperless statements, and partnering with carbon offsetting programs
Revolut also supports charitable causes and encourages its employees to volunteer in their communities
The company's main product is the Revolut app, which allows users to open a digital bank account, manage their finances, and make international money transfers at low fees
It also offers a multi-currency card that can be used globally with no foreign transaction fees
In addition, Revolut provides a range of other services such as cryptocurrency trading, insurance, and budgeting tools
The key people at Revolut include its co-founders, Nikolay Storonsky and Vlad Yatsenko, who serve as CEO and CTO respectively
The company has grown rapidly since its inception, and now has over 12 million customers worldwide
For more information, customers can visit Revolut's website at www.revolut.com
The registered office address for the company is 9th Floor, 107 Cheapside, London, EC2V 6DN, United Kingdom
Revolut also has offices in other countries including the United States, Australia, and Singapore
Customers can contact the company through its in-app chat feature or via email at support@revolut.com
Company Review
Trend Analysis
The data for REVOLUT LTD shows a fluctuating trend in the average time taken to pay invoices. From 2019 to 2021, the average time to pay remained relatively stable, with a slight decrease in 2021. However, in 2022 and 2023, there was a sharp increase in the average time to pay, with the peak being in the first half of 2023. This trend suggests that REVOLUT LTD may be experiencing some financial difficulties or changes in their payment policies.
Volatility Analysis
The data also shows a high level of volatility in the percentage of invoices paid within 30 days. In 2019 and 2020, around 68% of invoices were paid within 30 days, but in 2021, this increased to 82%. However, in 2022 and the first half of 2023, there was a significant decrease in this percentage, with only 55% of invoices paid within 30 days. This indicates that REVOLUT LTD may be experiencing some challenges in managing their cash flow.
Summary Analysis
Overall, REVOLUT LTD has shown a stable trend in their average time to pay invoices, with a slight decrease in 2021. However, there was a sharp increase in 2022 and the first half of 2023, potentially indicating some financial difficulties. The percentage of invoices paid within 30 days has also fluctuated, with a sharp decrease in 2022 and the first half of 2023. The percentage of invoices paid later than 60 days has remained relatively low, but saw a significant increase in the first half of 2023. The percentage of invoices not paid within agreed terms has also been stable, with a slight increase in 2022 and the first half of 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Net 45 days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Dispute Resolution Process
Suppliers should submit invoices to accounts@revolut.com. The Supplier must include the Revolut Purchase Order number on the invoice or it may be rejected by Revolut. A Supplier may raise a complaint regarding any payments made or unpaid invoices by emailing accounts@revolut.com. The Supplier should include the following information in any complaint: Detailed description of the complaint Name and email address of the Revolut point of contact Revolut Purchase Order Number Revolut will endeavour to respond to the Supplier's complaint within 10 days. If a Supplier does not receive a response or is not satisfied with the response received they may refer the matter to Revolut's Legal team by emailing legaldisputes@revolut.com
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
