The number of Revolut customers signed up for the fintech’s services has reached 120,000 and the firm is looking to engage in collaborations with local players to expand user base further, Elena Lavezzi, Head of Southern Europe at Revolut, told Business Malta.
“In Malta, we currently have 120,000 customers signed up to Revolut, which means that around one in four residents is a Revolut customer,” Ms Lavezzi says. The Maltese population is estimated to be around 460,000.
“We are very proud of this achievement since it shows that our product is appreciated by the local community and recognised as reliable and effective for their needs,” Ms Lavezzi adds.
Due to the small size of the island and tight-knit communities, the power of word of mouth in Malta is especially strong, which characteristic appears to be one of the main drivers of Revolut. Despite the growth, the fintech is considering establishing partnerships with local players to fuel expansion further.
“The exponential growth in the island is largely due to the word of mouth, however, we want to grow further in Malta and are already evaluating collaborations with local players to strengthen our presence and improve Maltese people’s everyday life from a financial perspective,” Ms Lavezzi concludes.