Fintech Revolut launches business platform for New Zealand SMEs aiming for 'north of 50,000' business customers over the next five years

Revolut, the British-headquartered fintech that launched in New Zealand in 2023, hopes to capture 50,000 business customers over the next five years following the rollout of a dedicated platform for NZ businesses.

Revolut is targeting the “gap” it sees in NZ’s small and medium-sized enterprise (SME) sector, according to the fintech’s NZ head, Georgia Grange.

Grange, who was Revolut’s first NZ employee when the fintech launched in July 2023, told interest.co.nz the country’s biggest banks have a one-size-fits-all approach when it comes to supporting businesses. 

That leaves a gap that Revolut is hoping to fill, she said, adding that NZ’s SMEs are “globally ambitious” but struggle to manage their finances from a single place.

“We’ve built Revolut Business to remove that friction [and give] businesses a faster, more flexible way to manage money locally and internationally, all from a single platform.”

SMEs currently face issues like required branch visits, high international remittance fees with large foreign exchange markups and fragmented software, according to Revolut.

The fintech said NZ SMEs that use Revolut Business will be able to manage essential functions like payroll, cards and expense management within a single system, eliminating the need for multiple providers.

Revolut Business’ subscription tier model includes four fixed plans, with their cheapest plan starting at $10 per month. Revolut said this allows local companies to select the feature sets, transfer limits and support models that are the best fit for their operational scale.

Revolut isn’t planning to target any specific business sectors or types with its business platform rollout, but does have internal customer number targets in mind.

“I think if we can get north of 50,000 [business customers] over the next five years, we'll be doing really well,” Revolut’s global head of business James Gibson told interest.co.nz.

Gibson said the fintech was partnering with Xero so Revolut could offer payroll functions as part of its business platform.

“We're not trying to be an accounting platform at the moment. We are a business where you hold your money, where you make payments, where you issue cards, where you at most capture pictures of your receipts and do the pre-categorisation, and then we feed it all into accounting at that point,” he said.

Instead, the fintech is fully focused on combatting the “high fees, branch-heavy onboarding and fragmented tooling” currently offered to businesses by NZ’s banks. 

Revolut describes NZ’s financial sector as being “dominated by incumbent banks” who hold over 90% of the country’s banking share. 

Revolut plans to spend $120 million on growing its NZ operation over the next five years. Grange told interest.co.nz that figure will be spent over multiple different business facets, including products, people and marketing.

Revolut now has 35 employees on the ground in NZ, with the fintech wanting to get that number up to 90 by the end of the 2026 financial year, according to Grange.

Grange and Gibsons wouldn't reveal to interest.co.nz how many NZ customers Revolut currently has, but the NZ Herald has previously reported the number being more than 100,000. 

Grange did not reveal the transaction value, but said Revolut handled over 6.5 million transactions in NZ in the 2025 financial year.

Revolut was launched in the UK in 2015 and has more than 75 million customers worldwide. The fintech has over 800,000 monthly active businesses across more than 40 markets, processing over NZ$60 billion in business transactions every month.

According to Companies House filings, Revolut reported £3.3 billion in global revenue and a before-tax global profit of £1.4 billion in the 12 months to 31 December 2025. Global net profit for the year to 31 December 2025 came to £1.1 billion.