CFO David MacLean stepped down at Revolut, a London-based banking services company, after just 5 months
Revolut, the digital financial institution and mobile apps fintech, has announced that CFO David MacLean has stepped down from the company after just five months of service. He leaves the place for “private causes”
MacLean joined Revolut last year in October, having worked as CFO at Metro Financial between 2016 and 2019. He would stay at Revolut until the summer, engaged in a corporate foundation.
Revolut said in an announcement, “Under Dave’s leadership, the finance staff have done an incredible job building the monetary capabilities that we need to proceed to grow our business. We now have an Interim CFO in place, who works closely with our Deputy CFO and our strong finance management team. “
Invoice Rattray, former CFO of Normal Life Aberdeen has reportedly joined the cellular banking startup as interim CFO. Rattray has over 30 years of experience working with Revolut President Martin Gilbert.
Since its founding in 2015, Revolut has seen rapid progress, with the past 12 months reaching No. 2 on LinkedIn’s Prime Startup 2019 lists. More than half of the top 10 on this list were held by fintech companies, including Starling and Monzo.
Revolut was shaped by Vlad Yatsenko and Nikolay Storonsky. Today, it has over seven million customers worldwide and has processed over 350 million transactions.
The fintech offers a number of digital banking providers, as well as a pay-as-you-go debit card, a foreign currency alternative service, cell funds and banking services, a cryptocurrency alternative and a peer-to-peer fund expertise.
All of this is handled through the Revolut app – available for iOS and Android – which allows you to spend and withdraw from ATMs in 120 currencies and send directly from the app in 29 currencies.
Revolut is proud of the simplicity and expertise of consumers, two engines at the heart of its improvements. For example, accounts will be opened and organized in minutes, the budgeting and account administration providers are intuitive and easy to navigate, and a number of other security choices are included for all clients.
On crypto-currencies, Revolut can transform 29 currencies into 5 cryptos: Bitcoin, Litecoin, Ethereum, Bitcoin Money and XRP. It also offers clients real-time cryptocurrency information, analysis and charts that illustrate current fees and value alerts.
Cash management for young people
This week, Revolut launched Revolut Junior for Youth, a fundraising product aimed at children ages seven to 17 who can see children having their own financial institution to play cards.
Right now, the product is available to these children of UK Premium and Metallic buyers – Revolut’s top accounts – although it is likely to roll out to all accounts in the future.
Revolut mentioned that the brand new product “offers [kids] the freedom to manage their money and build significant monetary expertise, but for added security and peace of mind it is owned and managed by mother and father ”.
The product offers a number of options, as well as funding directly from the associated parent or parent account, superior security features managed by the parent, parent or guardian, quick cellular notifications when the Junior card is used and monitoring and transaction alerts.
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