Revolut on the Lookout for Acquisition Targets

Revolut is keeping an eye out for potential acquisitions with the help of their recent $500 million round; with many technology companies being hit by the current pandemic they believe that they can benefit with their stockpile of cash; according to CEO Nikolay Storonsky they are looking to build roots as a card for travelers where customers might eventually be able to buy flights or rent cars through the Revolut mobile app; Storonsky stated, “A lot of travel aggregators are in trouble at the moment — we could probably purchase one and sell flight tickets at cost and be 10 to 15 per cent cheaper than everyone else.” In order to focus more on potential acquisitions, Revolut recently made Don Hoang, a former executive at Uber in charge of dealmaking; the FT shares more on the recent impacts to Revolut’s business. Financial Times

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