FinTech news in Revolut category

Revenue can be broken down in three big pillars: cards, subscriptions, and foreign exchange

Solvo is meeting a clear need for investors today, offering products that are focused on high quality assets, that provide diverse exposure and reduced risk as well as an attractive yield.

However, according to Revolut breach disclosure to the authorities in Lithuania, first spotted by Bleeping Computer, the company says 50,150 customers are impacted by the breach, including 20,687 customers in the European Economic Area and 379 Lithuanian citizens. Fintech startup Revolut has confirmed it was hit by a highly targeted cyberattack that allowed hackers to access the personal details of tens of thousands of customers. However, the breach disclosure states that hackers likely accessed partial card payment data, along with customers’ names, addresses, email addresses, and phone numbers. But Revolut warned that the breach appears to have triggered a phishing campaign, and urged customers to be careful when receiving any communication regarding the breach.

It’s now teaming up with fintech unicorn Revolut to allow users to donate directly to homeless people through the Revolut app, making it the first U.K. homelessness organization added to the Revolut Donations feature. Revolut users will now be able to donate to Beam, help homeless people raise funds for training, work tools, travel costs, childcare or rental deposits, directly through the app. Beam says it has since raised £3.2 million from members of the public and supported more than 850 homeless people into stable jobs and homes by matching them with ethically-checked landlords and employers. Funds donated to Beam through Revolut Donations are distributed equally between Beam’s beneficiaries.

Partnering with companies rather than providing services directly to users, she added, helps Addition create a more customized offering by leveraging data on the companies’ employees and their specific financial needs.

But it’s interesting to see that Revolut is still releasing new features in the U.S. in order to build a financial super app that works across multiple markets.