Daily Management Review

Revolut launches booking service with up to 10% cashback


Fintech start-up Revolut is entering the travel market: it has launched a travel booking service. This is the company's first product outside the financial sector.

Seb Daly / Web Summit / Sportsfi
Seb Daly / Web Summit / Sportsfi
British fintech company Revolut has launched an in-app travel accommodation booking service called Stays, CNBC wrote. Revolut itself has not officially announced the launch of the new feature, but Stays has appeared in the support section of the company's website.

Revolut customers can get up to 10 percent cashback for their bookings, CNBC wrote, citing the company. This is a first for Revolut's service outside the financial sector, the channel noted. For now, Stays is only available in the UK, the startup's "home" country. The company plans to launch it in the US and Europe in the coming months. It is only available to book accommodation now, but in the future, Revolut wants to add flights, car rentals and other travel options, CNBC reported.

Revolut was launched in 2015. Initially, the app featured simple and lucrative money transfers between countries and payments at favourable exchange rates when travelling abroad. It is now the UK's most expensive fintech startup and one of the most expensive fintech startups in the world, with investors valuing the company at $33bn in a funding round last week. 

source: cnbc.com