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The new tool has been launched to expand the offerings on Revolut Business, which has surpassed €461m in global annual revenue.
Revolut has launched a new tool to help businesses manage their bills, as the neobank works to expand its business offerings worldwide.
The company says its BillPay tool is designed to save time when managing and paying bills to suppliers in more than 150 destinations. Users are able to automatically add bills from their existing accounting software and quickly view their bill schedules.
By reducing their effort on bill payments, Revolute says businesses will be free to focus on other aspect of their business and will gain more oversight over their bills.
The news comes as Revolut’s B2B offering – Revolut Business – has surpassed €461m in global annual revenue. The company says its monthly processed transactions have reached €774m in Ireland and that Revolut Business is onboarding an average of more than 550 newly active businesses every month.
Revolut Business was launched in 2017 and is now live in 40 markets, having expanded into Singapore last month. Revolut says this platform is onboarding more than 20,000 companies per month on average.
“In the last year, we’ve made huge strides forward in our mission to be the number one finance automation system for businesses and we recently brought the product to Singapore,” said Revolut Business head James Gibson. “With the support of a significant and growing number of customers behind us, we’re aggressively doubling down on B2B and are ready to revolutionise banking for even more businesses around the world.”
In July, Revolut received a UK banking licence subject to restrictions from the country’s banking regulator. The bank also recently revealed it is working on a mortgage product aimed at users of the banking app in Ireland and may launch it as soon as next year.
Revolut was valued at $45bn after a secondary share sale last month. This made the digital bank one of the most valuable private technology companies in Europe, ahead of some of the continent’s biggest traditional banks.
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