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Fintech firm Revolut has launched an offering specifically for sole traders in Australia through its Revolut Business product.
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Revolut expands services to Australian sole traders
23 May 2024
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Revolut Australia has announced it will extend its Revolut Business product to include an offering for specifically for sole traders with over 4,000 sole traders already registered on the platform.
The Revolut Business app assists business owners with managing their finances and provides features such as multi-currency accounts, virtual and physical debit cards and real-time spending reports.
“With the addition of sole trader accounts, individuals can now leverage these tools to streamline their finances, make informed decisions, and gain better control over their money,” the fintech firm said.
The head of Revolut Business Australia, James Roberts-Thomson said Australian businesses are increasingly seeking modern payment services.
“We're thrilled to introduce a seamless and cost-effective solution tailored to businesses of all sizes,” said Roberts-Thomson.
“Our aim is to empower Australian businesses, enabling them not just to survive, but to thrive in today's dynamic market landscape, by saving them time and money."
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The fintech firm said that sole traders represent approximately one-third of the total Australian business economy.
“By launching its business feature for sole traders, Revolut will significantly increase its addressable market in Australia by approximately 60 per cent,” the firm said.
“Revolut Business seeks to empower sole traders to achieve their financial goals and unlock new opportunities for growth.”
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