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Revolut

includes Revolut Business, Revolut Ultra, Revolut Crypto Exchange, Revolut Ultra Subscription

180 statements across 40 episodes · 89 bullish · 26 bearish · 26 people on the record · first statement Mar 1, 2021 by Sebastian Siemiatkowski · said 605 times in 105 episodes since 2018 · across every show →

Mentions by year, the whole family

brought up most by Harry Stebbings (376), Val Scholz (33), James Gibson (29), Antoine Le Nel (24), Alan Chang (19), Martin Mignot (18), Sebastian Siemiatkowski (9), Nik Storonsky (9)

tap a year for its mentions
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02550201820192020202120222023202420252026episodes it came up in
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2026 133 mentions in 21 episodes 6 per episode
2025 244 mentions in 47 episodes 5 per episode
2024 180 mentions in 19 episodes 9 per episode
2023 3 mentions in 3 episodes 1 per episode
2021 31 mentions in 9 episodes 3 per episode
2020 9 mentions in 5 episodes 2 per episode
2018 5 mentions in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Revolut, oldest first

Mar 1, 2021 bullish
Prediction Not checkable as stated
Siemiatkowski predicts Revolut founder Nikolay Storonsky will successfully transform retail banking
“I know you're going to have Revolut as an example, or you already had Nick. Like, obviously, partially, he's a competitor to me, but much more, he's a soulmate to me. Like, he's also going to change this industry, and he's going to do that successfully”
Sebastian Siemiatkowski Mar 1, 2021 ▶ 34:08 20VC: Klarna Founder Sebastian Siemiatkowski on Scaling Europe's Most Valuable Private Tech Company, How To Motivate and Challenge Your Team Most Effectively & The Biggest Lessons From Working with Mike Moritz
Apr 12, 2021 bullish
Prediction Didn’t hold up
Storonsky: Revolut will expand into five to ten countries each year
“So that's why we try to expand, well, not in as many countries, but like with reasonable speed in as many countries as possible, because we've done it before, we have playbooks, we know how to do it, so we slowly add five, 10 countries a year.”
Nik Storonsky Apr 12, 2021 ▶ 11:26 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021 bullish
Prediction Not checkable as stated
Storonsky: Revolut can outgrow local fintech incumbents in most markets
“If you add on top of our marketing, I'm pretty sure we can outgrow any local competitors in the majority of countries.”
Nik Storonsky Apr 12, 2021 ▶ 12:49 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021
Insight
Storonsky: Launching a regulated fintech in a new country costs $10M–$20M
“It can take up to two years in terms of capital. Again, it depends how fast you want to go, but again, I would budget 10 to twenty million dollars, well, properly capitalizing entity in the market and hiring team, making sure country scales.”
Nik Storonsky Apr 12, 2021 ▶ 12:27 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021 bullish
Prediction Partly held up
Storonsky: Revolut will launch its full European product suite in the US
“As soon as we get trading license, We'll add all the products that we have on the Revolut for US market.”
Nik Storonsky Apr 12, 2021 ▶ 11:58 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021
Assertion Not checkable as stated
Storonsky: Revolut's product teams are small, autonomous units of 8 to 10 people
“Well, basically the way we operate, we have many product teams. So they're usually eight, 10 people. And then the team has all the resources in order to build a product.”
Nik Storonsky Apr 12, 2021 ▶ 10:27 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021 bullish
Prediction Didn’t hold up
Storonsky: Revolut aims to be top two in every market within five years
“So I want to be a global business, and to be either number one or number two in every single country where we're in.”
Nik Storonsky Apr 12, 2021 ▶ 21:19 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021 bullish
Prediction Not checkable as stated
Storonsky: Revolut reinvests 100% of its gross profits into marketing
“So our view is we optimize as much as possible gross profit. So we minimize costs, we optimize revenues on the one side, then we generate profits, and then all the profits we invest in marketing.”
Nik Storonsky Apr 12, 2021 ▶ 14:57 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021
Insight
Storonsky: Grant complete autonomy until weekly metrics stop moving
“Well, today I just give people goals. I always quantify goals so they are measurable, and then I let them reach these goals. Simple there. And then, you know, if things are going smoothly, I can see on a weekly basis during business reviews or during one-on-on…”
Nik Storonsky Apr 12, 2021 ▶ 5:33 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
Apr 12, 2021 positive
Insight
Storonsky: Faster product shipment and iteration increases a company's chances of winning
“Well, it's our secret weapon, right? It's how we compete with other companies, because ultimately all the businesses, what they do, they give products to people. And then the faster you can ship products, the faster you can iterate on products. So the more cha…”
Nik Storonsky Apr 12, 2021 ▶ 8:44 20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing
May 22, 2023 positive
Assertion Partly supported
Point Nine broke its rules to invest in Revolut's seed round
“When I was with .9 and reinvested in Revolut, it was both outside of the focus, right? It's a mobile consumer app. It was actually had just closed the seat round with Balderton. So there was no actionable opportunity and the only way to get in was actually for…”
Nico Wittenborn May 22, 2023 ▶ 44:40 Nico Wittenborn: Consumer Subscription Apps; Using Evolutionary Biology to Invest; Solo GP's | E1017 · 20VC with Harry Stebbings
May 13, 2024 negative
Opinion
Blomfield: Revolut's long-held culture makes changing regulatory course difficult
“I think Revolut have acted in a certain way for so long that it is hard for them to change course, really honestly.”
Tom Blomfield May 13, 2024 ▶ 54:39 Tom Blomfield: Do the Best All Raise Pre-Demo Day & YC's Fundraising Advice to Startups | E 1152 · 20VC with Harry Stebbings
May 13, 2024 negative
Assertion Supported
Blomfield: European neobanks N26, Revolut, and Monzo failed initial US expansion
“N-twenty-six has failed, Revolut's failed, Monzo's, the first go's failed”
Tom Blomfield May 13, 2024 ▶ 16:49 Tom Blomfield: Do the Best All Raise Pre-Demo Day & YC's Fundraising Advice to Startups | E 1152 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Supported
Revolut's website early slogan was 'better than a bank account'
“So, I mean, we even had on our website, right, better than a bank account, and bank was crossed out.”
Val Scholz Jun 21, 2024 ▶ 46:01 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Partly supported
Revolut sold 10,000 metal bank cards within one hour
“We had like 10,000 cards pre-ordered. It was literally sold out after an hour. And then basically we had like I think four months of like waiting line where basically every day more people ordered than we could manufacture.”
Val Scholz Jun 21, 2024 ▶ 12:06 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Revolut had to cap sign-ups due to referral loop speed
“One thing we've done at Revolut was essentially engineer how fast or how short it takes for new people to invite their peers and their friends, which actually worked really well to a point where we had to cap how many people actually Sign up.”
Val Scholz Jun 21, 2024 ▶ 4:15 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Revolut achieved a £9 CPA versus £250 for traditional banks
“So I think back in the days we had a CPA of around nine pounds, which was like, compared to banks that had like 250, it was quite low.”
Val Scholz Jun 21, 2024 ▶ 6:42 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Revolut increased user payment activation rate from 30% to 90%
“In the early days, like we had maybe an activation rate of so basically like new users that actually make a payment, it was maybe like 30, 35%. Like when I left, it was around 90%. So, like, nine out of 10 people actually made a payment.”
Val Scholz Jun 21, 2024 ▶ 4:47 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Opinion
Revolut belongs in the top 0.01% alongside SpaceX and Meta
“I think what a lot of people forget is that Revolut is like that company that's at the 0.01%. You know, it's like a SpaceX, Facebook Meta. I think all these companies are very similar.”
Val Scholz Jun 21, 2024 ▶ 35:22 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 negative
Opinion
TransferWise couldn't figure out Revolut's free FX cross-selling strategy
“So that was always like the secret sauce, which I think, you know, like for a long time, competitors couldn't really figure out. I think Transwise couldn't really figure out like, how can we give it away for free and still make more money than them?”
Val Scholz Jun 21, 2024 ▶ 10:48 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Not checkable as stated
Revolut CEO Nik Storonsky held 70 to 80 one-on-one meetings weekly
“Nick, for example, had 70, 80 one-on-ones a week. So basically like every product team sync, Nick was it. In it. Every design team think Nick was in it.”
Val Scholz Jun 21, 2024 ▶ 39:49 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 negative
Assertion Supported
Uber, Airbnb, Meta, and Revolut didn't use event tracking early on
“I actually think that if you look at Uber, Airbnb, Meta, they don't use events, or at least not in the early days. We didn't use events at Revolut.”
Val Scholz Jun 21, 2024 ▶ 47:03 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Partly supported
Revolut was founded after Nik Storonsky lost 10-15% on exchange fees
“And when he went to Vegas and took some money to play poker they took away around 10 to 15% because of the currency exchange. And because he was like, look, I mean, I trade hundreds of millions of dollars without paying any fees. He was like, hey, maybe there'…”
Val Scholz Jun 21, 2024 ▶ 8:28 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Partly supported
Revolut scaled from 80 to 2,500 employees in 2.5 years
“I went there when we were like, 80 people. I left when it was two and a half thousand. That's two and a half years. Like, my team went from two people to over a 150 in, like, nine months.”
Val Scholz Jun 21, 2024 ▶ 43:04 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not publicly verifiable
Revolut's Romania referral launch gained 64,000 users in three days
“When we launched it, we went in one market, Romania, from 2000, and after three days we won 64,000... We then had to turn it off because we grew too fast”
Val Scholz Jun 21, 2024 ▶ 44:14 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Revolut hired young, driven talent over pre-existing skills
“Nick basically looked at, looked for very young people, very driven people, very smart people. That was basically the main requirements, right? The thinking was kind of like, you know, we can teach people skills. We can't teach them the right behaviors or atti…”
Val Scholz Jun 21, 2024 ▶ 27:37 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Opinion
Revolut is a superior product to Monzo
“I think Monzo is just a, it's a more modern bank, like Revolut is a financial ecosystem.”
Val Scholz Jun 21, 2024 ▶ 51:54 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Revolut optimized its user signup journey to under five minutes
“And so we optimize the product to basically make sure that Enough people can go through that whole journey in less than five minutes.”
Val Scholz Jun 21, 2024 ▶ 3:02 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 bullish
Assertion Contradicted
Nubank is currently outscaling Revolut's growth rate
“Revolut is growing fast, but Nubank is growing even faster.”
Val Scholz Jun 21, 2024 ▶ 58:02 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 neutral
Disclosure
Revolut hiring managers did sourcing while recruiters only scheduled and closed
“We used recruiters to schedule call, close contracts. But like sourcing yeah, screen calls, CV screening, it was usually done by hiring managers.”
Val Scholz Jun 21, 2024 ▶ 30:03 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Over 90% of Revolut's B2C customers came from referrals
“So for example, like 90% of the customers, B to C customers that Revolut ever acquired came through referrals.”
Val Scholz Jun 21, 2024 ▶ 2:26 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Supported
Revolut grew fastest in Ireland, Romania, and Poland, not the UK
“So if you think about Revolut against Monzo, right, like the markets we grew the fastest wasn't the UK. It was Ireland, it was Romania, Poland.”
Val Scholz Jun 21, 2024 ▶ 0:04 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Disclosure
Revolut reached 10 million users without using paid marketing
“We didn't use it.”
Val Scholz Jun 21, 2024 ▶ 18:14 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 negative
Assertion Supported
Revolut user surge stretched customer support wait times to four weeks
“Suddenly KYC times, right? Went from three minutes to, or a minute, right, to suddenly like two weeks. Customer support waiting lines went from, I don't know, 10 minutes to four weeks.”
Val Scholz Jun 21, 2024 ▶ 44:31 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Not checkable as stated
Revolut required candidates to analyze one million data points in interviews
“So for example, at Revolut, like if you wanted to become a product manager or operations person you had to analyze, I think a million data sets and figure out like what's the problem in onboarding. It took us three months to solve the problem.”
Val Scholz Jun 21, 2024 ▶ 32:57 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 negative
Disclosure
Revolut's growth team avoided hiring traditional marketing majors
“Also like, for example typically in growth, we didn't look for people that studied marketing.”
Val Scholz Jun 21, 2024 ▶ 32:13 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Not checkable as stated
Revolut's free card referral campaign generated 180K signups in one week
“I think the quickest way to get a lot of growth for us was, I think it was a Monday afternoon Chad, me, and Tom, and I think Alan, basically set up a referral campaign, wrote an email, some T's and C's, and enabled free cards to Revolut customers, and that gen…”
Val Scholz Jun 21, 2024 ▶ 49:26 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Insight
Revolut's multi-currency foundation was the engine for its rapid growth
“And I think, you know, like, this was kind of like, for us, it was kind of like the engine that drove the company so fast, because we were always based on a multi-currency product, which allowed us to add cryptocurrencies commodities, but also, like, create ne…”
Val Scholz Jun 21, 2024 ▶ 8:54 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Not checkable as stated
Revolut demanded 'special forces' level execution at maximum speed
“To put it, as Nick put it, we're like special forces. We go in, we don't fuck up. So it had that mentality that every meeting, every design catch up, every marketing campaign, essentially anything you do is perfectly executed at all times. At the maximum speed…”
Val Scholz Jun 21, 2024 ▶ 52:32 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 neutral
Disclosure
Revolut's early referral program offered free card codes instead of cash
“Well, so in the early days we didn't offer any money. So in the early, early days basically we just gave away a free Revolut code.”
Val Scholz Jun 21, 2024 ▶ 7:08 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 negative
Disclosure
Revolut's P2P payment flow for non-users failed to drive user growth
“For whatever reason, I thought that you can acquire a lot of Customers with P to P payments. And so I spent four weeks trying to make it work that people can pay someone that's not on Revolut. I just didn't do anything.”
Val Scholz Jun 21, 2024 ▶ 49:58 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024
Assertion Not checkable as stated
Revolut team handed out cards in Google and Uber cafeterias
“We went to all the big tech companies like Google, Uber in our lunch break to hand out cards in their cafeteria.”
Val Scholz Jun 21, 2024 ▶ 12:33 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Opinion
Nik Storonsky's relentless meeting cadence created Revolut's top operator alumni pool
“I think it's the reason why there's so many talented people coming out of Revolut.”
Val Scholz Jun 21, 2024 ▶ 40:05 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Jul 8, 2024 negative
Disclosure
Grady: Passing on Segment and Revolut Series A rounds were terrible mistakes
“I met both of them at the Series A, and both of them told me the entire story in like five or 10 minutes. And it was super clear. And at the end of the five or 10 minutes, I couldn't think of any questions to ask because they had already answered any question …”
Pat Grady Jul 8, 2024 ▶ 21:49 Pat Grady: Sequoia Partner on Investing Lessons from Doug Leone, Roelof Botha and Alfred Lin | E1174 · 20VC with Harry Stebbings
Jul 24, 2024 bullish
Disclosure
Stebbings says Revolut is his top private company investment target
“I would most like to be in Revolut. Of all private companies right now.”
Harry Stebbings Jul 24, 2024 ▶ 46:37 Jason Lemkin: Crowdstrike, WTF Happens From Here? Wiz Rejects Google’s $23BN Acquisition Offer|E1181 · 20VC with Harry Stebbings
Oct 14, 2024 negative
Insight
Stebbings: VCs often force sub-optimal angels onto founders to repay favors
“Especially on structuring rounds, people will bring in people who are maybe not the best fit for the company, But they owe them for a deal that was done before, or they want to curry favors with people. I see this a lot where I'm like, hey, hey, the head of gr…”
Harry Stebbings Oct 14, 2024 ▶ 1:19:35 David Frankel, MP @Founder Collective: Investing Lessons from Seeding Coupang, Pillpack & Suno|E1214 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Disclosure
Antoine Le Nel increased Revolut's CAC to drive higher ROI
“So what I've done by, I've been arriving at Revolut is that I increased CAC significantly, but I improved ROI significantly too.”
Antoine Le Nel Oct 18, 2024 ▶ 24:42 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024
Assertion Supported
Le Nel: Revolut sets targets so high the company never reaches them
“We never reach our targets, you know, because our targets are much greater than what we, than what we're achieving.”
Antoine Le Nel Oct 18, 2024 ▶ 33:48 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 bullish
Insight
Antoine Le Nel: Growth is driven by granular execution, not moonshots
“They fish for the moonshot and so on, while actually it's just down there being excellent in the execution in everything you do at the lowest level of granularity.”
Antoine Le Nel Oct 18, 2024 ▶ 49:59 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024
Insight
Le Nel: Growth marketing fails when operators rely on channel dogma
“I think it's when you start bringing a little bit of belief. I think the less you believe in, the Better it is, you know. I have no belief in anything, you know. I have no belief in anything. Like, it's true, you know, because... Well, I don't necessarily beli…”
Antoine Le Nel Oct 18, 2024 ▶ 15:38 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 neutral
Disclosure
Le Nel: Revolut cancels underperforming marketing campaigns after two weeks
“Well, so, I mean, on the marketing side we've been there's been some campaigns, for example, that we've been running in some countries where we've been using some creatives that were quite generic, and after two weeks we saw it was a disaster, and we just cut …”
Antoine Le Nel Oct 18, 2024 ▶ 10:35 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 bullish
Prediction Held up
Le Nel: Revolut is actively working on launching a mortgage product
“Well, we're working on it. I want mortgage.”
Antoine Le Nel Oct 18, 2024 ▶ 1:00:29 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Insight
Le Nel: Remote Work Gives Introverts Greater Impact Than In-Person Meetings
“And I think in the world of remote, I think it gives a much stronger chance to introvert people, more introvert people to have deeper impact in meetings compared to in real life.”
Antoine Le Nel Oct 18, 2024 ▶ 44:04 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Disclosure
Revolut uses airport card vending machines for brand ad attribution
“So what we do in airport, which is pretty cool, is that, so we do the advertising on jet bridges and so on, you know, if you, if you've been to Rome airport and so on, for example, we've launched something really cool there. But next to it, we put vending mach…”
Antoine Le Nel Oct 18, 2024 ▶ 17:56 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Insight
Le Nel: Decisive binary choices outperform prolonged debates despite false positives
“If we say yes, it's yes. If we say no, it's no. And then we move on. And there are some false positive, you know, into it. You know, there are definitely some false positive, where we may say yes, and it should have been a no, and we said no, it should have be…”
Antoine Le Nel Oct 18, 2024 ▶ 38:51 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 negative
Insight
Le Nel: Celebrity brand campaigns fail if celebrities lack social media skills
“I think doing some big brand campaigns with some let's say some celebrities that just not necessarily super good with social media, let's put it this way that just doesn't work, you know.”
Antoine Le Nel Oct 18, 2024 ▶ 19:13 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Assertion Not checkable as stated
Antoine Le Nel: Revolut Is More Product-Driven Than Data-Driven
“That's the big difference, for example, with Revolut. I think we're a lot more product driven. Which means we spend more time looking at the product than looking at the data.”
Antoine Le Nel Oct 18, 2024 ▶ 2:54 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 negative
Insight
Le Nel: Generalist marketers belong in management, not execution
“I'm a strong believer of specialists, and that people should be experts in what they do, and generalist marketers are good in managerial positions, but not at doing things necessarily, you know, and that's why we have people who are experts in mid funnel, expe…”
Antoine Le Nel Oct 18, 2024 ▶ 21:34 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 bullish
Assertion Not checkable as stated
Le Nel: Revolut growth accelerates weekly with no ceiling in mature markets
“And it's steady, and it's accelerating week after week, you know, we just monitor every week, the acceleration keeps on going, just because the engine gets more and more optimized, you know, as we are progressing, and for now, we definitely don't see the limit…”
Antoine Le Nel Oct 18, 2024 ▶ 8:54 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024
Disclosure
Le Nel: Revolut measures growth using three key metrics
“Alright, well, we look at three things, I'd say, obviously. So the first thing is the volume of users, you know, that we're getting. The second thing is the ROI at which we are acquiring them. What's the payback? What is the, in, in, in months? And the last on…”
Antoine Le Nel Oct 18, 2024 ▶ 32:02 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024
Insight
Le Nel: Product teams build viral engines; growth teams operate them
“I think the way I like it I like it to work is that the product team builds the end, build the variety engine, and growth operates it. So you build something that is that you can parameter, you know, with parameters, and then you let growth play with it, you k…”
Antoine Le Nel Oct 18, 2024 ▶ 14:57 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024
Assertion Supported
Harry Stebbings: Chime is worth roughly a quarter of Revolut
“Chime, you know, is probably a quarter of the enterprise value of Revolut now.”
Harry Stebbings Oct 18, 2024 ▶ 40:57 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 neutral
Disclosure
Le Nel: Revolut's Remote Team Meets In Person Only Once a Year
“Once a year.”
Antoine Le Nel Oct 18, 2024 ▶ 42:37 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 neutral
Disclosure
Le Nel: Revolut's Crypto Exchange Underperformed Internal Expectations
“I think, I mean, we launched the crypto exchange was a great product. I mean, it's doing good. I did not really, I mean, it did not necessarily pick up the way we wanted yet, but maybe, yeah.”
Antoine Le Nel Oct 18, 2024 ▶ 55:51 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 negative
Insight
Le Nel: Focusing on CAC leads to acquiring the worst customer cohorts
“There's no CAC discussion. We only talk about ROI. Because if you talk about CAC, you'll always acquire the worst cohorts.”
Antoine Le Nel Oct 18, 2024 ▶ 0:10 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 neutral
Disclosure
Revolut's growth department operates across 20 to 25 matrixed teams
“In the growth team we have, I think it's 20, 25 different teams, you know... Because we work as a matrix, you know, so you have the channel people, and then you have the local people, and all of those are teams, you know. And then we run so I run a weekly busi…”
Antoine Le Nel Oct 18, 2024 ▶ 34:56 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Assertion Partly supported
Le Nel: Revolut and King built brands before spending on marketing
“Out of sample of two, which is King and Revolut, the brand was much bigger before a single dollar of marketing was spent, right?”
Antoine Le Nel Oct 18, 2024 ▶ 51:05 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Assertion Partly supported
Revolut hit #1 in Romania and Norway using identical growth strategies
“We became number one in Romania and Norway, With the exact same strategy, the same, I mean, the same thing, you know”
Antoine Le Nel Oct 18, 2024 ▶ 28:46 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 positive
Insight
Le Nel: 15-Minute Meetings Work Remotely But Fail In Person
“A meeting of 15 minutes remotely works. In the real world, it doesn't work.”
Antoine Le Nel Oct 18, 2024 ▶ 43:10 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 18, 2024 negative
Insight
Monthly review meetings waste employee time on executive presentations
“If you had a meeting on, I mean, only once a month and so on, you would actually spend, I mean, we know how teams are, you know, they spend the last two, three days, you know, just preparing the presentation for the exec. It's a waste of time.”
Antoine Le Nel Oct 18, 2024 ▶ 35:45 Antoine Le Nel, CGO @Revolut: How Revolut Launch and Grow Products & Why CAC is a BS Metric | E1216 · 20VC with Harry Stebbings
Oct 25, 2024 positive
Opinion
Goldberg: Revolut's product velocity is unparalleled in any market
“Revolut's product velocity is, is just unparalleled in really any market at this point, including new bank.”
Mark Goldberg Oct 25, 2024 ▶ 42:59 Mark Goldberg: Why Politics is Rife & Decision-Making is Broken in Large VCs | E1219 · 20VC with Harry Stebbings
Oct 25, 2024 bullish
Prediction Open · timeframe Oct 2029
Stebbings: Revolut is more likely to win the US market than Chime
“I would actually place a lot bigger bet on Revolut taking the US than Chime.”
Harry Stebbings Oct 25, 2024 ▶ 43:38 Mark Goldberg: Why Politics is Rife & Decision-Making is Broken in Large VCs | E1219 · 20VC with Harry Stebbings
Oct 25, 2024 bullish
Prediction Not checkable as stated
Goldberg: Revolut is the closest candidate to a $100B neobank
“Actually, the last time I was on your show, I think I predicted a hundred billion dollar in Neobank coming out of, you know, somewhere. And I think we're a lot closer. I think Revolut's the closest we're gonna see to that.”
Mark Goldberg Oct 25, 2024 ▶ 43:29 Mark Goldberg: Why Politics is Rife & Decision-Making is Broken in Large VCs | E1219 · 20VC with Harry Stebbings
Nov 1, 2024 bullish
Prediction Held up
Harry Stebbings: Revolut will probably reach a $100 billion valuation
“Revolut is a forty-five billion dollar company now, and I think it'll probably be a hundred billion dollar company.”
Harry Stebbings Nov 1, 2024 ▶ 32:38 Vlad Tenev, Co-Founder & CEO @Robinhood: The GameStop Saga & The Future of AI | E1222 · 20VC with Harry Stebbings
Nov 27, 2024 positive
Opinion
Klaus Hommels: Revolut is the European tech ecosystem's biggest blessing
“Revolut is it's, I think it's the biggest blessing that we have in the European ecosystem currently as a company”
Klaus Hommels Nov 27, 2024 ▶ 54:09 Klaus Hommels: Why "Portfolios are Merely a Construct to Make LPs Happy"? | E1231 · 20VC with Harry Stebbings
Nov 27, 2024
Disclosure
Lakestar's UK team originally missed investing in Revolut
“We basically, we missed it in, in in the UK team at the time”
Klaus Hommels Nov 27, 2024 ▶ 54:09 Klaus Hommels: Why "Portfolios are Merely a Construct to Make LPs Happy"? | E1231 · 20VC with Harry Stebbings
Dec 2, 2024
Assertion Not checkable as stated
Storonsky: Early UK crypto rules caused 99.9% false-positive transfer blocks
“When we received our crypto license, like several years ago in UK, there were certain rules attached to it, which actually caused Kind of 99% false positive. So, for example, a person wants to send money in crypto to another account, and then we will block thi…”
Nik Storonsky Dec 2, 2024 ▶ 13:32 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Insight
Storonsky: Underperforming new hires rarely improve after their first month
“Well, majority of people are, you see them performing strong or excellent after three, four weeks, right? So they hit the ground running on week three. Majority of them, they actually from week one. So generally, if you see a person is not performing for one, …”
Nik Storonsky Dec 2, 2024 ▶ 2:44 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 negative
Insight
Storonsky: Uncontrolled secondary share sales prevent successful primary capital raises
“As soon as you don't have control, so then every time when you try to raise a primary round, you're competing with all these early investors who want to sell at a large discount because, I mean, they made so much money. And they're okay to exit, you know, as s…”
Nik Storonsky Dec 2, 2024 ▶ 31:11 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 bullish
Prediction Open · timeframe Dec 2027
Storonsky targets growing Revolut to 30-40 million daily active users
“And then hopefully to have I would say, 30 to forty million delective people. So now we're here, we're around ten million delective people.”
Nik Storonsky Dec 2, 2024 ▶ 26:24 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 positive
Disclosure
Revolut advertises on airport jet bridges despite unmeasurable ROI
“For example, recently we started buying AirPods jet bridges and I personally believe IR on it is amazing but, you know, we clearly cannot measure it”
Nik Storonsky Dec 2, 2024 ▶ 8:50 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 neutral
Disclosure
Storonsky: Revolut's largest cost is marketing, followed by personnel
“When I look at our costs, I think our top cost is actually marketing now, and then the second cost is people.”
Nik Storonsky Dec 2, 2024 ▶ 8:15 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 neutral
Assertion Not checkable as stated
Storonsky manages more than 40 direct reports at Revolut
“So I've got 40 plus reports.”
Nik Storonsky Dec 2, 2024 ▶ 1:46 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Insight
Storonsky: Revolut product bets cost £2-3M with 10 people over 18 months
“So usually to launch a product, you need to have a very small team of 10 people. They will work on the product for say one to one and a half years. Cost will be probably, I don't know, two, three million pounds.”
Nik Storonsky Dec 2, 2024 ▶ 20:23 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Disclosure
Revolut must complete UK bank rollout before applying for US license
“So basically, first we need to roll out our U.K. Bank so go through all these mobilization conditions, and then put our U.K. Customers on the bank. As soon as we get it done, it actually unlocks us or our ability to apply for license in the U.S.”
Nik Storonsky Dec 2, 2024 ▶ 16:48 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 neutral
Assertion Not checkable as stated
Storonsky: Winning Revolut products always show growth in months one to three
“Surprisingly, they, like, on month one, month two, month three, they always, you know, go up. So they don't have doubts.”
Nik Storonsky Dec 2, 2024 ▶ 23:08 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 negative
Disclosure
Storonsky: Revolut paid $2M for 55 executive hires and fired 50
“I think I hired like, you know, 55 through executive recruiters, paid like, you know, two million in fees. I ended up, you know, firing 49 or 50 of that, so it's such a waste of money.”
Nik Storonsky Dec 2, 2024 ▶ 5:13 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 bullish
Prediction Open · timeframe Dec 2029
Storonsky: Revolut is ready to build a private bank for wealthy clients
“I think it was too early. Now we have a lot of customers, and then a lot of customers actually have a lot of balances with us. Some of them have, you know, millions on our accounts. So I think it's time to build the product making for people with a lot of liqu…”
Nik Storonsky Dec 2, 2024 ▶ 25:11 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 negative
Disclosure
Storonsky: 99% of a CEO's job is solving unpleasant problems
“99% of time is, is, is a lot of pain, right? Because reality, what happens is, even if you have organization then all the unpleasant problems that no one else solves, and it goes into me, and I ended up doing all this, you know, shitty jobs, right? Solving pro…”
Nik Storonsky Dec 2, 2024 ▶ 40:41 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 bullish
Prediction Not checkable as stated
Storonsky: Tripling top European market share makes Revolut a 4X business
“So right now we have our penetration of market share. I would say it depends from five percent to sometimes 70%. On average, I would say 10%. So if we manage to go from 10% to 30, 40% market share in our top 10 markets, so there will be already probably four X…”
Nik Storonsky Dec 2, 2024 ▶ 26:53 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Disclosure
Storonsky says his main motivation for running Revolut is avoiding boredom
“Well, I asked it actually myself many, many times, and I have two answers, right, because A like what else to do, and B, I just need to do something, right, otherwise it's very boring.”
Nik Storonsky Dec 2, 2024 ▶ 44:53 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Assertion Not checkable as stated
Storonsky: Only five of Revolut's 27 recent product bets hugely succeeded
“So usually, so out of 27 bets that we launched last two and a half, three years, like amazingly worked probably, let's say five. Five, six didn't work at all, and the rest is just, you know, somewhere in the middle.”
Nik Storonsky Dec 2, 2024 ▶ 21:19 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 negative
Opinion
Storonsky: UK public markets cannot compete with the US due to liquidity
“I just don't understand how the product which is being provided by UK can compete with the product provided by US. It is less liquid, so it's much worse compared to US. Plus it's much more expensive because it pays some duty, right? So it's like, it's just not…”
Nik Storonsky Dec 2, 2024 ▶ 0:00 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Insight
Storonsky: Founders have zero skill assessing candidates in unfamiliar domains
“Because reality, if you never kind of, you know, worked with the designers, You have zero skills to hire designers. You never worked in the reg affairs or government affairs. You have zero skills to assess who is good, who is not. So in order to first learn th…”
Nik Storonsky Dec 2, 2024 ▶ 6:42 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 positive
What-if
Storonsky would start Revolut in the US if starting over today
“US, most likely, yeah.”
Nik Storonsky Dec 2, 2024 ▶ 43:29 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 negative
Insight
Storonsky: Hiring experienced professional managers to scale is a dead end
“Well, I never believed it, but I was forced to believe that, you know, in order to scale the company to hire experienced professional managers, that's a dead end.”
Nik Storonsky Dec 2, 2024 ▶ 5:02 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 bullish
Assertion Supported
Storonsky: Revolut obtained its Mexican banking license ahead of Nubank
“So we got a banking license in Mexico, a head of new bank.”
Nik Storonsky Dec 2, 2024 ▶ 17:55 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024 negative
Assertion Not checkable as stated
Storonsky: Asia will be harder than US to win due to licensing
“Well, because they don't allow your banking licenses, right?”
Nik Storonsky Dec 2, 2024 ▶ 32:29 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Dec 2, 2024
Insight
Storonsky: Revolut launches products even when internal committee opinion is split
“So the way we think about what to launch, what not to launch, we just have a committee of people who've done it before, who launched products before, and they have our opinion. And so when everyone is positive, we launch things. When everyone is negative, we d…”
Nik Storonsky Dec 2, 2024 ▶ 20:43 Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 · 20VC with Harry Stebbings
Feb 14, 2025 bullish
Opinion
Stebbings: Revolut's culture thrives on performance and impending IPO momentum
“Revolut is a great example of that. It's not a fluffy culture, but the company is humming. The IPO is in sight and the culture is on fire.”
Harry Stebbings Feb 14, 2025 ▶ 38:30 Solly Solomou, Founder & CEO @ LADbible Group: From Penniless Shop Offices to Public Company | E1259 · 20VC with Harry Stebbings
Apr 10, 2025 bullish
Opinion
Stebbings: Revolut is a great buy even at a $45B–$60B valuation
“Whereas like people think forty-five billion or sixty billion new round is pricey. I would buy the shit out of Revolut right now.”
Harry Stebbings Apr 10, 2025 ▶ 1:20:00 Tom Hulme & Stan Boland: Lessons from Jensen Huang & How to Fix the UK Tech Ecosystem · 20VC with Harry Stebbings
Apr 21, 2025 positive
Opinion
Wilk: Revolut Excels at Rapid International Expansion and Regulatory Setup
“I would say a lot of respect for what Revolut's doing. I think they're, I'd almost call it like regulatory as a service. Their ability to just go into these different countries and set up operations is pretty remarkable.”
Jason Wilk Apr 21, 2025 ▶ 56:38 Dave CEO, Jason Wilk: The Best Performing Fund Would Only Back YC Founders on Their Second Time · 20VC with Harry Stebbings
Apr 28, 2025 bullish
Prediction Not checkable as stated
Hinrikus: Revolut Is Likely Europe's Next Major Startup Ecosystem Accelerator
“I mean, I have to say there seems to be a lot of companies coming from Revolut today, which is pretty, pretty cool to see. I don't know how many of them are doing exciting things compared to do, trying to do fintech widgets, but maybe today I'd say Revolut.”
Taavet Hinrikus Apr 28, 2025 ▶ 1:00:26 Plural Partner, Taavet Hinrikus: Why Founders Will Realise Multi-Stage Funds Damage Seed Rounds · 20VC with Harry Stebbings
May 9, 2025 positive
Opinion
Crespo: Revolut Has One of the World's Best Marketing Teams
“And the stories to the public are not necessarily coming from Nick, but again, he has one of the best marketing team in the world, full stop.”
Eleonore Crespo May 9, 2025 ▶ 17:35 20VC: Four Traits of the Most Successful Founders | How to Hunt and Close Talent Like a Pro and Where All Founders Go Wrong | Lessons Raising $397M From the Best Investors in the World with Eléonore Crespo @ Pigment
May 26, 2025 neutral
Prediction Not checkable as stated
Jack Zhang predicts Revolut is Airwallex's future competition
“I don't know about Revolut. I mean that's my competition ultimately in the future.”
Jack Zhang May 26, 2025 ▶ 1:32:05 Airwallex CEO & Co-Founder, Jack Zhang: The Angel That Turned $1M into $1BN · 20VC with Harry Stebbings
Jun 5, 2025 bearish
Opinion
Lemkin: VCs should sell Revolut and Chime private shares immediately
“I would probably sell Revolut and Chime right now.”
Jason Lemkin Jun 5, 2025 ▶ 29:27 Is DPI The Only Thing That Matters? with Sam Lessin, Jason Lemkin & Rory O’Driscoll · 20VC with Harry Stebbings
Jun 5, 2025 bullish
Prediction Held up
Stebbings: Revolut will likely reach a $100B to $150B valuation
“I think everyone is realizing now that Revolut will quite likely be at least a hundred billion dollar company and likely a hundred and fifty billion.”
Harry Stebbings Jun 5, 2025 ▶ 28:21 Is DPI The Only Thing That Matters? with Sam Lessin, Jason Lemkin & Rory O’Driscoll · 20VC with Harry Stebbings
Jul 14, 2025 positive
Opinion
Tenev: Revolut is more impressive than Chime due to product velocity
“I think I'm more impressed by Revolut. You know, Revolut's got product velocity, international scale strong founder, you know, impressive guy.”
Vlad Tenev Jul 14, 2025 ▶ 40:52 Robinhood Founder & CEO, Vlad Tenev: Robinhood’s $85BN Resurgence & Tokenizing SpaceX & OpenAI · 20VC with Harry Stebbings
Jul 27, 2025 bullish
Assertion Supported
Stebbings: Revolut Out-Shipped Monzo On New Product Releases
“Revolut out-shipped the shit out of Monzo on new products.”
Harry Stebbings Jul 27, 2025 ▶ 21:19 20Product: Should We Kill the PM Role Entirely | How Does Product Design Change Most in a World of AI | How Do Monzo Build Product Today: What Works, What Does Not | Why Most Product Sucks and What Makes Truly Great Product
Aug 4, 2025 bullish
Assertion Partly supported
Index Ventures Is the Largest Shareholder in Figma, Dream Games, and Wiz
“Largest shareholder in Figma, largest shareholder in Dream Games, largest shareholder in Wiz you know, second largest shareholder in Scale.ai, Revolut.”
Miles Dieffenbach Aug 4, 2025 ▶ 42:45 Miles Dieffenbach: Inside Carnegie Mellon’s $4BN Endowment & The Math Behind DPI, TVPI, Illiquidity · 20VC with Harry Stebbings
Aug 11, 2025 bullish
Prediction Not checkable as stated
Martin Mignot: Revolut will achieve meaningful market penetration in the US
“I think they will.”
Martin Mignot Aug 11, 2025 ▶ 1:02:14 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 11, 2025 bullish
Opinion
Mignot: Revolut is better than any US neobank
“They're, you know, they can be as big, if not bigger than anyone in the world, and I think Revolut is probably, you know, one of, if not the best neobank in, in the market in, in many ways. It's, I think, better than anything, you know, in the U.S., for exampl…”
Martin Mignot Aug 11, 2025 ▶ 1:01:07 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 11, 2025 neutral
Disclosure
Mignot: Revolut operated as a negative gross margin business in early stages
“Especially in the early stages, it was kind of, You know, negative gross margin business. I mean, they were basically giving away effects that weren't charging for anything else. You had a little bit of interchange, but not that much.”
Martin Mignot Aug 11, 2025 ▶ 23:58 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 11, 2025 positive
Insight
Mignot: Revolut's core insight was offering costless high-volume FX for free
“FX, For a large corridor where you have a lot of volume of transfer costs nothing. So it should be given, you know, given for free, you know, to the market. And then once you have that, that's a really good hook, and then you can build something else.”
Martin Mignot Aug 11, 2025 ▶ 11:43 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 11, 2025 positive
Insight
Mignot: Building venture-backed hyper-growth startups requires seven-day workweeks
“If you look at the most incredible companies in the past, you know, you look at Revolut, you look at Deliveroo, all of these companies, the amount of work that these founders and these early teams put in was tremendous. I mean, it was seven days a week, you kn…”
Martin Mignot Aug 11, 2025 ▶ 43:23 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 11, 2025 bullish
Assertion Not checkable as stated
Mignot: Nik Storonsky targeted building a company larger than JPMorgan Chase
“Like, you know, eventually he thinks, he's convinced there is, there will be one global money app, and that he can be that one global money app that could be better, you know, bigger than, you know, when we first met, he wanted to be bigger than JP Morgan.”
Martin Mignot Aug 11, 2025 ▶ 1:03:54 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 11, 2025 positive
Disclosure
Martin Mignot: Early Revolut success created bias against other fintech deals
“I was lucky enough to be early in Revolut, and, Then I looked at a lot of other fintech investments were like, well, Revolute can do this, so Revolute does it better”
Martin Mignot Aug 11, 2025 ▶ 16:51 Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
Aug 21, 2025 positive
Assertion Supported
Stebbings: Revolut is incubating 26 new products in an internal venture lab
“Revolut internally has 26 new products that they are kind of baking in their venture lab, and they have insane testing, metric testing every week with Nick to determine what makes it to main stage, and they run them like little venture teams with different fun…”
Harry Stebbings Aug 21, 2025 ▶ 49:52 Databricks at $100BN, CoreWeave’s $11B Debt Bet & Nubank’s $2.5B Profit Shocker - Ep.19 · 20VC with Harry Stebbings
Aug 21, 2025 positive
Opinion
Stebbings: Revolut's Nik Storonsky is the best founder I have ever interviewed
“I have all the founders that I've interviewed, and I've interviewed, you know, Jason, me and you'both interviewed thousands, 100,000 He's the best I've ever met.”
Harry Stebbings Aug 21, 2025 ▶ 50:13 Databricks at $100BN, CoreWeave’s $11B Debt Bet & Nubank’s $2.5B Profit Shocker - Ep.19 · 20VC with Harry Stebbings
Sep 19, 2025 positive
Opinion
Stebbings: Revolut's Nikolay Storonsky is the best founder he has interviewed
“Honestly, Jesse, I've interviewed a thousand of the biggest founders of our time. Nick is the best of all of them. Period. Hands down.”
Harry Stebbings Sep 19, 2025 ▶ 46:36 20VC: Why 90% of Founders Build Startups Wrong | Why AI Growth Rates are Sustainable & Remote Work is BS and the AI Talent War | Competing with Brett Taylor and Sierra: Who Wins the Customer Service War with Jesse Zhang, Decagon
Sep 26, 2025 positive
Disclosure
Revolut Sets Three-Year Strategies Driven by Concrete Product Deliveries
“Once a year, we set a three-year strategy, which has kind of what we want to focus on and why, but very quickly gets down to concrete product deliveries that we want to make.”
James Gibson Sep 26, 2025 ▶ 36:22 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 bullish
Prediction Not checkable as stated
Gibson: Revolut's top product priority will be integrating AI
“I think first and foremost, it will be bringing AI into the products that we're building. And I don't know about you, but I haven't seen, you know, tons of examples of that across the industry yet. I think we're really just at the start.”
James Gibson Sep 26, 2025 ▶ 39:35 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Insight
Gibson: Product trade-offs should be evaluated using a single metric like gross profit
“We try and denominate the different ideas in terms of the impact they can have on those goals. So let's say gross profit is your ultimate goal. You should be able to do some pretty basic calculations on should you build your new, let's say localized tax featur…”
James Gibson Sep 26, 2025 ▶ 29:34 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Assertion Not checkable as stated
Revolut gives major product bets at least a year to succeed
“If one of our kind of new bets is not hitting its goals that we set, we give those a good year or potentially even longer”
James Gibson Sep 26, 2025 ▶ 24:20 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 negative
Disclosure
Revolut struggled to scale UK payroll product at £5 per seat
“Trying to build a growth engine for a payroll product when the going price is about five pounds per seat in the UK and trying to do that scale, we found it very hard. We didn't manage to make it work.”
James Gibson Sep 26, 2025 ▶ 25:55 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 neutral
Disclosure
Revolut is experimenting with AI vibe coding for product prototyping
“We were talking about this week and trying it out in some areas. I haven't seen it done yet. I will be really interested. I think in principle it could work. I mean, I could see how it could be quite cool, but I'd be interested to see it. So I haven't formed a…”
James Gibson Sep 26, 2025 ▶ 23:56 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Insight
Gibson: High performers won't spend days on interview take-home assignments
“Very high performing people tend to not want to dedicate two days of their life to solving a problem, and so you have to make sure it's something reasonable. So we do use them, but I would say in a limited way.”
James Gibson Sep 26, 2025 ▶ 15:18 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 negative
Insight
Gibson: High Proportions of New Hires Dilute Product Velocity
“You cannot keep velocity going with a lot of new, because people need time to learn, right?”
James Gibson Sep 26, 2025 ▶ 38:09 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Assertion Not checkable as stated
Gibson: Revolut limits product teams to 10-12 cross-functional members
“We're talking about 10 to 12 per team. You don't want it too big. Keeping it small and lean is, is definitely the way to do it in my opinion.”
James Gibson Sep 26, 2025 ▶ 20:30 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 neutral
Assertion Not checkable as stated
Gibson: Baseline work pace at Revolut is 11 to 12 hours daily
“Try and work about maybe like 11, 12 hours a day with a bit of exercise in the middle, that sort of thing. I found, I mean, that's eight years in. That's my kind of marathon pace, I would say. And then when we need to work harder, we can.”
James Gibson Sep 26, 2025 ▶ 48:14 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Insight
Gibson: Raw problem-solving skills matter more than product frameworks
“I personally believe a lot more in raw skills than I do in people who've learned frameworks.”
James Gibson Sep 26, 2025 ▶ 10:51 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Assertion Partly supported
Gibson: Revolut employs product owners instead of product managers
“The way we structure product teams at Revolut Business and across all of Revolut is we have product owners who report into me and note we have product owners, not product managers.”
James Gibson Sep 26, 2025 ▶ 19:42 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Assertion Not checkable as stated
Revolut Back-Tests Interviewers Based on Hired Employees' Performance Reviews
“We gather these data points for the people that they do hire. So we know the performance reviews that those people go on to get, and then we can basically back test the interviewer and give them scores. And you see the distribution of outcomes of the people th…”
James Gibson Sep 26, 2025 ▶ 9:04 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Insight
Gibson: High-performing candidates readily identify past career mistakes
“I like to ask people what their biggest mistakes were in their career, and people who I think are good tend to have a lot of mistakes, and they can identify at various stages all sorts of things that they would have done differently, and that's because you wan…”
James Gibson Sep 26, 2025 ▶ 11:44 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Assertion Not checkable as stated
Gibson: Revolut founders Nik Storonsky and Vlad Yatsenko join weekly business-wide reviews
“And then once we're really confident in them, they get bubbled up to, we do a overall business one once a week, which is, this is the final output. This is going to be built. And that's the one then that Nick or Vlad occasionally join, and they'll then have th…”
James Gibson Sep 26, 2025 ▶ 23:25 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 neutral
Insight
Storonsky: Products should not fund downstream features until onboarding is optimized
“Until we've got a really good funnel that is obviously meets all the requirements that we have to meet, there's no point spending money on everything that comes after it. You need to have that top of funnel. You're just leaving money on the table.”
James Gibson Sep 26, 2025 ▶ 46:02 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Insight
Gibson: Target 70 to 80 percent goal attainment to ensure ambitious targets
“When you set goals, if you're always hitting a hundred percent of your goal, then you're probably not setting the right goals. If you're only ever hitting five percent of your goals, you either got a terrible team or you're not saying the right goals. So rule …”
James Gibson Sep 26, 2025 ▶ 19:00 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Disclosure
Storonsky demands Revolut maintain its eight-year growth rate despite scale
“Nick has set for me and for us to continue the level of growth that we've had over the last eight years I've been there. We're trying to continue to grow at the same rate despite being at a much larger scale and with all the complexities that comes with that.”
James Gibson Sep 26, 2025 ▶ 19:19 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Assertion Supported
Gibson: Revolut's executive team has stayed stable for up to eight years
“I think one of the most amazing things about Revolut is that we have a senior team who have been in the company now for quite a long time, and it's been relatively stable. And I've worked now with a bunch of people, my peers, and I've worked with them for, wel…”
James Gibson Sep 26, 2025 ▶ 49:06 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 positive
Assertion Not checkable as stated
Revolut hires product managers directly from graduate cohorts, engineering, and data
“We've just taken in a big cohort of grads directly. We also hire from engineering and data as well.”
James Gibson Sep 26, 2025 ▶ 4:40 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Insight
Gibson: Deliverable quality matters far more than task volume early in careers
“No one remembers if you've done 15 different things in your first three months, they'll remember the quality of what you did.”
James Gibson Sep 26, 2025 ▶ 6:17 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 neutral
Disclosure
Revolut maintains central and division-level design leadership to prevent product divergence
“We have a central within Revolut, a central design system team. And then within business, we have a head of design as well, who's acting as that kind of glue to say, hang on a second, we've got divergence here.”
James Gibson Sep 26, 2025 ▶ 34:53 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Insight
Gibson: Double down on proven growth playbooks instead of hiring total overhaulers
“And what you end up finding kind of six months, 12 months later is actually the way you were doing it before that got you all that growth before was a great way to do it. And you should Probably just sort of double down on that and put more weight behind that …”
James Gibson Sep 26, 2025 ▶ 16:48 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025 neutral
Disclosure
Revolut Seeds New Product Bets Primarily with Existing Staff
“We typically bring people from existing teams and put them into these teams, then maybe with one or two new people, and then that's the team that runs with it for maybe a year, maybe two years, and we see how it does.”
James Gibson Sep 26, 2025 ▶ 28:32 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Assertion Not checkable as stated
Gibson: Revolut spends most product review time evaluating Figma designs screen-by-screen
“And then what we spend most of the time doing is looking at designs. So the designer will literally present Figma and say, okay, we've got a new problem we're looking to solve. This is how we're going to solve it. And we go through screen by screen.”
James Gibson Sep 26, 2025 ▶ 23:09 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Assertion Not checkable as stated
Revolut sets five company macro goals and cascades them across departments
“We set at the company level about five kind of macro goals that we're looking to achieve, and some of them are kind of, you know, financial goals, some of them are customer experience goals and the like. And then we cascade those down to the relevant products …”
James Gibson Sep 26, 2025 ▶ 18:01 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Sep 26, 2025
Insight
Gibson: Teams should limit focus to a maximum of five goals
“I don't think you should have any more than five goals at once. I think if you do, it starts to become too confusing. You're trying to optimize in too many different directions. So we try and keep it three to five per team.”
James Gibson Sep 26, 2025 ▶ 18:44 20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
Oct 9, 2025 neutral
Assertion Supported
Lemkin: Balderton led Revolut's seed round at $8M post-money
“Balderton bought, led the seed round in Revolut, two million at eight post. Two million at eight post, and then led the A on top of it, right?”
Jason Lemkin Oct 9, 2025 ▶ 30:21 OpenAI's Multi-Billion Deal with AMD & Polymarket, Vercel and Supabase Raise Mega Rounds · 20VC with Harry Stebbings
Oct 23, 2025 positive
Assertion Open
O'Driscoll: Revolut generated $3B revenue and $1B profit growing at 60%
“It's doing, I want us to last year, three billion in revenues, making a billion, growing at 60%.”
Rory O'Driscoll Oct 23, 2025 ▶ 7:40 Why VC Today is Worse than 2021 · 20VC with Harry Stebbings
Jan 5, 2026 positive
Assertion Not checkable as stated
Chang: Revolut was the only Level39 startup working past 7 PM
“Level-Thirty-Nine is, yeah, for those who don't know, it's basically a giant, yeah, a startup co-working space with maybe over 200 startups, and Revolut was the only team that worked past seven p.m. On the weekday. So after seven p.m., the whole floor is dead.…”
Alan Chang Jan 5, 2026 ▶ 3:11 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026
Insight
Alan Chang: Fast execution requires small independent units and replacing underperforming teams
“Have small teams yeah, small teams operating in the independent units and give them very clear goals and let them execute. And, you know, what you should do is monitor those teams and if they do well, let them be. If they don't do well, replace the team.”
Alan Chang Jan 5, 2026 ▶ 5:14 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 bullish
Disclosure
Revolut Founder Nikolay Storonsky Stated His Goal Was to Beat JPMorgan
“I asked Nick, like, what's, what's your ambition? Like, what keeps you motivated? And at the time he's, you know, worth quite a bit of money already. So, you know, what gives us, what drives him, right? And he told me he wants to beat JP Morgan.”
Alan Chang Jan 5, 2026 ▶ 3:43 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026
What-if
Chang: Revolut was only possible due to recent EMI licensing regulations
“If you look at Revolut you know, I think Revolut is only possible because With the EMI license. And the EMI license was created, you know, just a couple years before Revelo was founded. So if, I don't think Revelo would be impossible, you know, 10 years before…”
Alan Chang Jan 5, 2026 ▶ 1:00:43 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 positive
Opinion
Chang: Balderton repeatedly backs ex-Revolut teams due to past investment success
“Yeah, I think they really, really like the concept, and I think what they realize is, is a pretty good strategy, and I realize after the, you know, a lot of their investments, I think they, they've just, because they made so much money from the Revlon investme…”
Alan Chang Jan 5, 2026 ▶ 51:22 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 positive
Opinion
Chang: Nikolai Storonsky is the person to crack the US market
“If someone's gonna do it, it's Nikolai.”
Alan Chang Jan 5, 2026 ▶ 57:24 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 bullish
Disclosure
Chang has only sold Revolut shares for basic personal consumption
“No. It's only solved for what I need to, only for personal consumption. I'm still very bullish on the company.”
Alan Chang Jan 5, 2026 ▶ 56:57 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026
Assertion Not checkable as stated
Storonsky replied to Alan Chang's job application within five minutes
“I applied and Nick replied within five minutes.”
Alan Chang Jan 5, 2026 ▶ 2:04 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 bearish
Opinion
Alan Chang: Legacy banking incumbents haven't woken up to challenger threat
“I still don't think they realize. I still don't think the incumbents have woken up yet.”
Alan Chang Jan 5, 2026 ▶ 14:46 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 positive
Assertion Partly supported
Chang: Crypto and trading revenues offset Revolut's COVID interchange collapse
“During the COVID lockdowns the interchange revenue, so, you know, revenue from people spending on cards, especially abroad, went basically near zero, right? However there was a lot of stimulus checks, right? From the COVID times and the stock market was boomin…”
Alan Chang Jan 5, 2026 ▶ 13:14 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026
Assertion Not checkable as stated
Storonsky interviewed Alan Chang with physics questions and offered him a role immediately
“So I came for an interview, and he asked me a bunch of physics questions, like, you know, I didn't realize I was applying for a physics job. And he offered me a role, you know, right after the interview.”
Alan Chang Jan 5, 2026 ▶ 2:13 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 bullish
Prediction Open · timeframe Jan 2031
Chang predicts Revolut will become a trillion-dollar company
“I think of a trillion dollar company.”
Alan Chang Jan 5, 2026 ▶ 57:18 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 5, 2026 positive
Opinion
Chang: Revolut outexecuted Monzo and N26 purely on speed and ambition
“There wasn't any differentiation in product roadmap. But what differentiated between, you know, us and everyone else was basically ambition and the speed of execution.”
Alan Chang Jan 5, 2026 ▶ 4:46 Fuse CEO Alan Chang: The Revolut Playbook of Speed & Ownership, Why Founders Aren’t Ambitious Enough · 20VC with Harry Stebbings
Jan 26, 2026
Insight
Junestrand: Startups should leverage third-party AI tools over full vertical builds
“Yeah, I think we're not the size of Revolut or Deal, right? And so it probably doesn't make sense for us to do that. And Langchain and a lot of their surrounding tools have gotten a lot better. And so I think we're in the job of, and our engineering team is in…”
Max Junestrand Jan 26, 2026 ▶ 40:44 Legora CEO, Max Junestrand: $7M ARR in a Day | Harvey vs Legora: Is a Legal AI Winner Takes All? · 20VC with Harry Stebbings
Feb 16, 2026 bullish
Assertion Supported
Siemiatkowski: Klarna operates proprietary payment rails capturing itemized receipt data
“We have our own payments network. Just like Amex, we have our own Rails. Every time you shop with Klana, the information that flows on the rails isn't just the amount that you purchase for. It's the exact products. We have the full digital receipt.”
Sebastian Siemiatkowski Feb 16, 2026 ▶ 27:33 Klarna CEO: SaaS is Dead: Why Systems of Record Will Die in an Agentic World · 20VC with Harry Stebbings
Feb 16, 2026 bearish
Prediction Not checkable as stated
Siemiatkowski: Fintechs target market share from legacy banks, not each other
“Whose market share are we eating? You know, Barclays, you know the Wells Fargo's, the Capital One, those are the companies that we are going after, right? So I don't really see there's a big conflict between us. It's more the incumbents that are going to lose …”
Sebastian Siemiatkowski Feb 16, 2026 ▶ 25:39 Klarna CEO: SaaS is Dead: Why Systems of Record Will Die in an Agentic World · 20VC with Harry Stebbings
Feb 16, 2026 neutral
Assertion Not checkable as stated
Siemiatkowski admits Revolut currently has higher user engagement than Klarna
“The engagement that I have is not as high yet as it is with Revolut.”
Sebastian Siemiatkowski Feb 16, 2026 ▶ 22:56 Klarna CEO: SaaS is Dead: Why Systems of Record Will Die in an Agentic World · 20VC with Harry Stebbings
Feb 16, 2026 bullish
Prediction Open · timeframe Feb 2029
Siemiatkowski: Nubank will outperform Revolut in US expansion
“I think I have to go with David. Because I think, ah, Nick's challenge right now might be that he is so distributed. I mean, he's trying to go for the whole world, right? I mean, he's launching in Dubai. He's launching in India. He's launching everywhere. You …”
Sebastian Siemiatkowski Feb 16, 2026 ▶ 30:25 Klarna CEO: SaaS is Dead: Why Systems of Record Will Die in an Agentic World · 20VC with Harry Stebbings
Feb 16, 2026 bullish
Assertion Partly supported
Siemiatkowski: Klarna's 110M customer base is nearly double Revolut's 65M
“Klarna has a hundred ten million customers worldwide. Revolut now has 65, right? So I'm twice the size in number of customers.”
Sebastian Siemiatkowski Feb 16, 2026 ▶ 22:44 Klarna CEO: SaaS is Dead: Why Systems of Record Will Die in an Agentic World · 20VC with Harry Stebbings
May 18, 2026 negative
Opinion
Browder: US startup ambition and outcomes are 100x larger than UK's
“One huge negative is the scale of ambition in the US is a hundred times bigger. The most successful companies in the UK are in the, like, tens of billions range, like Revolut and great outcomes like that. In the US, it's in the trillions, and it's just an orde…”
Josh Browder May 18, 2026 ▶ 1:27:07 Turning Peter Thiel's $100K into $10M Angel Portfolio & Why VCs Can Be Sharks | Josh Browder · 20VC with Harry Stebbings
Jun 8, 2026 bullish
Prediction Not checkable as stated
Chernin: Enterprise AI adoption will explode once evaluation cold-start issues resolve
“And I think we'll see a lot of explosive growth in enterprises, in the digital, including like in the cloud companies, in the cloud native companies like Revolut, Shopify, Prosus. Booking.com. When they solve this cold start problem, they build the system, how…”
Roman Chernin Jun 8, 2026 ▶ 45:19 Nebius Co-Founder on AI Infrastructure Bubbles | How Price Elastic is Demand for Compute · 20VC with Harry Stebbings
Jun 8, 2026
Disclosure
Chernin: Revolut initially spent 99% of its AI inference budget on OpenAI
“We have the customer of Revolut. And when we started working with them, I think 99 percent of their budget, inference budget was in closed models in OpenAI.”
Roman Chernin Jun 8, 2026 ▶ 42:22 Nebius Co-Founder on AI Infrastructure Bubbles | How Price Elastic is Demand for Compute · 20VC with Harry Stebbings
Jun 11, 2026 positive
Assertion Partly supported
O'Driscoll: Revolut Generates $4.5B Revenue and $1.5B Operating Income
“And it's the same bet with Revolut. They raising at a hundred and something, they're doing what? Four and a half billion in revenue, you know, 1.5 billion in operating income, which is fricking amazing.”
Rory O'Driscoll Jun 11, 2026 ▶ 54:34 SpaceX Launches Largest Ever IPO | OpenAI Files to Go Public | Uber Cuts 23% of HR · 20VC with Harry Stebbings
Jun 11, 2026 negative
Prediction Not checkable as stated
O'Driscoll: Non-lending fintech giants like Revolut threaten banking economics
“At some point we're going to have to deal with the fact that the largest bank by market cap Doesn't do much lending, and that's actually going to be a real problem in the aggregate because the whole point is of banking is to recycle savings into lending.”
Rory O'Driscoll Jun 11, 2026 ▶ 31:06 SpaceX Launches Largest Ever IPO | OpenAI Files to Go Public | Uber Cuts 23% of HR · 20VC with Harry Stebbings
Jun 11, 2026 positive
Opinion
O'Driscoll: Revolut's valuation stems from fat, inefficient European banks
“Because the European banks, unlike the American banks in general, are so crappy. There's a reason that Revolut's worth a hundred and fifteen billion, because the incumbent European banks were fat, dumb, and happy, and making margin off their customers.”
Rory O'Driscoll Jun 11, 2026 ▶ 30:05 SpaceX Launches Largest Ever IPO | OpenAI Files to Go Public | Uber Cuts 23% of HR · 20VC with Harry Stebbings
Jun 27, 2026 positive
Opinion
Revolut Is Strategically Better Positioned Long-Term Than Robinhood
“I, I'm a Robin Hood user because I'm in the US, so I'm going to say Robin Hood, but I do think Revolut is very well positioned. Honestly, it's really hard. Maybe Revolut. It's a close, it's a, that's a close one.”
Paul Erlang Jun 27, 2026 ▶ 46:29 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
Jun 27, 2026 bullish
Prediction Open · timeframe Jun 2029
Revolut Will Outvalue Robinhood in Its Next Funding Round
“It's our fintech provider, Revolut, which has stolen the show, and I think on the next round will be considerably more valuable than Robinhood.”
Harry Stebbings Jun 27, 2026 ▶ 43:59 How We Got Fred Wilson, Benchmark and Index to Invest $94M | Why Robinhood's Strategy is Wrong · 20VC with Harry Stebbings
Jul 29, 2026 bullish
Opinion
O'Driscoll: Revolut has more compounding upside than Stripe due to European TAM
“On a TAM basis, a plus or minus a hundred bill, there's just more compounding in those five hundred million exploited Europeans.”
Rory O'Driscoll Jul 29, 2026 ▶ 1:18:59 Jensen's Open-Weights Letter | Google Cloud Grows 82% But The Market Tanks
Aug 12, 2026 neutral
Assertion Partly supported
Scaleups acqui-hiring failing YC startups for AI talent is no longer viable
“When rippling is hoovered up 30, and owners hoovered up 20, and Revolut's hoovered up 10, you just, that strategy worked three years ago. Like, it's too late. Like, everyone is just sitting there hitting refresh, hoping these smart YC companies fail so they ca…”
Jason Lemkin Aug 12, 2026 ▶ 1:29:11 Canva Slashes Growth | Talent Exodus at Google | Revolut's $50B CEO Package | Musk's $55B Terrafab
Aug 17, 2026 positive
Opinion
Stebbings: Revolut's Nik Storonsky Is the Best Founder Out of 1,000
“Nick Staronsky from Revolut. I've interviewed a thousand founders. He's the single best founder I've ever interviewed, and it's because he runs 26 product experiments at once. He gives them two million dollars, tells them to run for a year. Every single week h…”
Harry Stebbings Aug 17, 2026 ▶ 12:38 Uber President on Travis, China & Self-Driving | Why Autonomy Is Existential | How to Beat DoorDash
Aug 24, 2026 positive
Disclosure
Bek Entered Revolut at $200M Valuation Before It Surpassed $100B
“Well, it depends on which valuation, but we entered at 200, no, 182 hundred million, and I think the latest valuation is over a hundred billion.”
Julien Bek Aug 24, 2026 ▶ 1:24:17 Inside Sequoia's Investment Committee | How the SpaceX & Citadel Deals Went Down | Julien Bek
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