UK-based fintech Revolut appoints Glauber Mota as CEO Brazil, strengthening team ahead of official market entry
Corporate · 29 March 2022
- Revolut has appointed Glauber Mota as CEO of Brazil ahead of the global financial superapp offering accounts and international cards to Brazilian consumers marking its first step to bringing full offering of the financial superapp to the country.
- Revolut will bring easier and cheaper currency access and lower transfer rates to Latin America’s largest market.
- Glauber Mota joins Revolut from BTG Pactual where he was partner and COO of its digital retail unit.
São Paulo/London - Revolut, the $33 billion UK-head-quartered financial superapp with more than 18 million customers worldwide, today announced the appointment of Glauber Mota as its CEO in Brazil, ahead of its official launch in Latin America’s largest market. Mr Mota joins Felipe Lachowski, Brazil Head of Strategy & Operations, who leads Revolut’s operations in Brazil.
Prior to joining Revolut, Mr Mota was associate partner in BTG Pactual, one of the largest investment banks in Latin America, where he held several senior executive roles at the wholesale bank, the private bank group business in Switzerland and most recently as COO to its digital retail unit in Brazil. In his new role at Revolut, Glauber will initially focus on quickly building a talented team in Brazil to lead its expansion in the country.
Revolut is a true global platform, with FX travel product native expertise and interbank exchange rates, with a presence in over 35 countries. Its offering includes investment, crypto, payments, insurance, among others, and is on the path to become a global financial superapp to all things money and to help customers manage their daily finances.
Revolut Brazil will start offering accounts and international cards which can be used in more than 150 countries and enable easier and cheaper access to over 25 global currencies, and will gradually complement the offering with all products and features of the financial superapp, which includes investment, crypto, and insurance. The Revolut app is already available for Brazilians who wish to subscribe to the waiting list to be among the first to open a Revolut account when the moment arrives.
Nik Storonsky, CEO and co-founder of Revolut, said: “As Latin America’s largest market, Brazil is a key strategic priority of Revolut’s international expansion drive. We are pleased to welcome Glauber to our team. With his wealth of experience in the financial sectors and an outstanding track record, we’re delighted that Glauber is joining Revolut. Brazil is an important market in our expansion strategy with a huge supply of talent, and we’re excited to tap into that talent pool to help Revolut go from strength to strength.”
Glauber Mota, CEO Revolut Brazil, commented: “Brazilians are one of the most active digital populations worldwide, and the number of unique users of mobile devices in Brazil is already over 112 million people, with a rising number of people using digital banks as their primary account. However, when traveling abroad and shopping online, Brazilians still need to use credit cards and currency exchange brokers, incurring high fees. This represents an enormous opportunity, and the Revolut product offering is unbeatable for Brazilians who continue to embrace e-commerce and begin to travel abroad again. I am very excited to lead the team and bring Revolut’s superapp complete offering to Brazil."
Revolut will be among the first UK fintechs to reach Brazil, where the competitive landscape is increasingly challenging. Its launch in the country is the latest step in its international expansion plans, following successful launches in Singapore and Australia in 2019; and the US and Japan in 2020. Revolut is already searching for Brazilian and international talent to join its growing team.
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