Super-Charged Revolut Might Be Driving Too Fast
Despite the high value of fintech startups, there are still questions about how they can undercut the big banks while staying onside with regulators.
The co-founder of Revolut is having to set the record straight on a lot of things.
Photographer: Handout/Getty Images EuropeNik Storonsky, the Russian-born co-founder of Revolut Ltd, has been setting the record straight on a lot of things lately. His $1.7 billion money-transfer app has been hitting the headlines for all the wrong reasons: Regulatory scrutiny over an alleged compliance lapse; the departure of its finance director; suspicions of Russian political interference; and a toxic work culture.
The famously blunt executive, a champion swimmer who boxed as a child, has reassured customers and staff that there was no compliance lapse, that the CFO’s exit was to make way for someone more experienced in global banking, and that any corporate-culture issues are firmly in the past. And that his ties to Russia are irrelevant and inaccurate.