Record levels of customer adoption for Revolut Business in Cyprus

Revolut, the global fintech with more than 50 million customers and hundreds of thousands of business customers globally, announced that it is experiencing record levels of customer adoption for Revolut Business in Cyprus, shortly after global annualised revenues surpassed $500m earlier this year.

Local businesses in the country have been benefiting from Revolut’s accessible, multi-currency accounts, smart money management tools, and seamless cross-border payments. Key country milestones include:

• Card Issuance Growth: The issuance of new Revolut Business cards in Cyprus has also grown dramatically. Revolut Business now issues over 14,000 new cards per month, reflecting a year-over-year increase of 1,234%. This growth demonstrates the increasing trust and reliance Cypriot businesses have in Revolut’s advanced payment solutions, it said.
• Money Market Funds (MMFs): After about five months of the Flexible Cash Funds launch for Grow, Scale and Enterprise plans, Revolut Business customers in Cyprus are holding over £49.9m in MMFs, benefiting from competitive yields and flexible access to funds. With up to 4.40% APY2 (variable) on USD, this investment service is helping Cypriot businesses optimise their cash reserves with low risk.
• Card Spend Boom: Revolut Business customers in Cyprus now spend over £26.84m on cards every month, marking a 142.2% increase compared to the same period last year. This explosive growth underscores the local demand for seamless, borderless payment solutions, with businesses relying on Revolut for everything from supplier payments to operational expenses.

Revolut’s Flexible Cash Funds, introduced earlier this year in Cyprus, are revolutionising how businesses in the region manage their excess of cash. Traditionally only accessible to large corporations, Flexible Cash Funds have democratised money market funds, providing all businesses—regardless of size—access to new investment opportunities.

James Gibson, Head of Revolut Business, commented, “Cyprus is proving to be a key market for us as businesses here are quick to adopt our solutions to enhance their financial operations. Whether it's scaling with our multi-currency accounts, managing their cash with our Flexible Cash Funds, or optimising daily spending, businesses in Cyprus are increasingly turning to Revolut Business to fuel their growth."

The company’s rapid growth in Cyprus mirrors the global expansion of Revolut Business, which now boasts more than half a billion dollars in annualised revenues and continues to launch innovative products tailored to the evolving needs of businesses around the world. Revolut Business’s flexible, integrated banking and investment services help businesses streamline spending, manage cross-border payments, and grow capital—all in one intuitive platform.