Revolut launches Business Platform in Singapore

Revolut, a leading global fintech company, has launched its new Revolut Business offering in Singapore, marking its entry into the Asian market. The platform aims to provide efficient and cost-effective financial tools for small and medium-sized enterprises (SMEs) to support their international operations. 

Already operating successfully in over 40 countries, Revolut Business offers a wide range of features, including multi-currency accounts, virtual and physical debit cards, real-time expense reports and multi-user management. Despite being available in Singapore for personal accounts since 2019, Revolut did not extend its corporate online account opening services for Singapore companies.

Now, businesses from Singapore, as from other countries, can hold over 25 currencies and access over 150 currencies at the interbank rate, helping to minimize the costs associated with international transactions.

The platform is available in four different plans – Basic, Grow, Scale and Enterprise to suit the needs of businesses of all sizes. The Basic plan is ideal for startups, has no recurring fees and offers free foreign exchange of up to S$1,500 per month. The Grow plan starts at S$15 per month and allows you to send up to S$13,000 fee-free, while the Scale plan starts at S$84 per month and allows you to send up to S$60,000. Designed for larger businesses, the Enterprise plan starts at S$417 per month and includes up to S$250,000 fee-free, with a 0.6% fee applied to any transactions above the limits.

With Revolut’s corporate cards and convenient options, businesses can easily manage their finances. The platform offers up to five free local monthly transactions and fee-free transfers. With the Grow and Scale plans, businesses can get a three-month trial and discounts of up to 20% when paying annually. The Enterprise plan offers 50 free international transfers and supports mass payments for up to 1,000 recipients in multiple currencies.

Revolut continues to grow successfully in the Singapore market every year. The company’s annual revenue has doubled from 2022 to 2023, and more than 1,500 companies are already waiting to join Revolut Business in the country.