• Revolut Business is democratising access to money market funds to fuel European business growth through the launch of its Flexible Cash Funds offering for paid plan customers.
• Flexible Cash Funds offer a convenient, secure-access and low-risk way for Revolut Business customers to make their money work harder and attempt to grow spare cash.
• Revolut Business customers investing in Flexible Cash Funds can earn and receive returns daily, with more than 5% APY (variable) on USD*.
• On average across the EEA, Revolut Business clients deposit more than 5 billion euros to their current accounts per month.

Revolut, the global fintech with over 40 million retail customers and hundreds of thousands of business customers globally, is today launching its brand new Flexible Cash Funds offering for paid plans business customers in select EEA markets. Through Flexible Cash Funds, Revolut Business customers can invest in low-risk money market funds - traditionally only available to large enterprises with the highest amounts of capital to spare.

By democratising access to money market funds through its Flexible Cash Funds offering for paid plan customers, Revolut is helping businesses fuel their future growth. With more than 5% APY (variable) on USD*, Flexible Cash Funds can help businesses build up cash reserves whatever their stage of growth and for any scenario - from acquisitions and reinvesting to tax payments and cushioning the blow of expenses. In the last six years, volumes in money market funds have roughly doubled in the United States**. EU money market funds held more than 1.4 trillion euros in assets at the end of 2021***.

The announcement comes at a time when interest rates**** and inflation***** across Europe remain high. In other words, businesses that aren’t making their cash balances work hard by earning returns risk losing out in real terms. Across the EEA, Revolut Business clients already deposit more than 5 billion euros to their current accounts per month.

With Flexible Cash Funds, Revolut Business customers can earn and receive returns every day, add and withdraw money within two business days without fees or restrictions under normal market conditions, set access controls for everyone in the business and open up to 100 Flexible Cash Funds in available currencies (GBP, EUR and USD) with no minimum or maximum investment amounts.

James Gibson, Head of Revolut Business said:“At Revolut, we’re relentless in our goal to simplify all things money and for Revolut Business that means making it easy for companies to scale and invest. Flexible Cash Funds do exactly that - enabling our business customers to build up their capital and plan for their future growth. We’re really excited to be making money market funds accessible to businesses of all sizes, not only those with huge cash reserves and asset managers.”

Flexible Cash Funds are just one of the ways customers can use Revolut Business to build up capital, manage currency risk and plan for the future. Customers can also exchange money at the interbank rate (based on plan allowances, during market hours) and protect their business against currency volatility via Forwards - locking in future exchange rates to get a fixed exchange rate for the future, today.

Revolut Business was designed to help businesses scale - and save - with multi-currency accounts, global payments and smarter spending, available via web, mobile and APIs.

Revolut’s Flexible Cash Funds invest in Constant Net Asset Value (CNAV) or Low Volatility Net Asset Value (LVNAV) money market funds managed by FIL Investment Management (Luxembourg) S.A. a subsidiary of Fidelity International, one of the largest asset managers in the world. These money market funds are classified as 1 out of 7 in terms of risk - the lowest possible risk indicator. Investments and cash are insured up to €22,000 by the Lithuanian Liabilities to Investors Insurance Scheme******. Users can easily find more details about where they are investing their money by looking at the fund breakdown in the app and reading the Key Information Document of each fund available in the app.

* The Annual Percentage Yield (APY) is presented net of fees as of 20/06/2024 and is based on information provided by the fund manager, subject to change daily. This is the highest APY offered to Enterprise customers, customers’ APY may be lower depending on their Business subscription plan and applicable fees.

**https://fred.stlouisfed.org/series/MMMFFAQ027S

***https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

****https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

*****https://data.ecb.europa.eu/data/datasets/ICP/ICP.M.U2.N.000000.4.ANR

******Coverage in the unlikely event of the liquidation of Revolut Securities Europe UAB, and failure to protect customers’ assets.

DISCLAIMERS

Flexible Cash Funds is an investment product through which you can invest in Money Market Funds. Capital at risk, returns are not guaranteed. The value of investments can go up as well as down and you may receive less than your original investment or lose the value of your entire investment. Past performance and forecasts are not a reliable indicator of future results. Currency rate fluctuations can adversely impact the overall returns on your original investment. This press release is intended for informational purposes only and does not constitute investment advice or a recommendation.

Investment services provided by Revolut Securities Europe UAB (company code: 305799582; registered address: Konstitucijos ave. 21B, Vilnius, Lithuania, LT-08130), which is regulated by the Bank of Lithuania, and provides its services in other EEA countries under the Freedom of Services regime without branches or tied agents. T&Cs apply. Visit: https://www.revolut.com/business/flexible-cash-funds/?geo-redirect=true

Revolut Business multi-currency accounts, currency exchange functionality, global payments and smarter spending are provided by the Revolut Bank UAB or through its branch office. T&Cs apply. Visit: https://www.revolut.com/business/?geo-redirect=true