UK-based challenger bank Revolut has signed up roughly 850,000 customers in Romania.
Irina Scarlat, head of growth in Central and Eastern Europe at Revolut, told Profit.ro, that the user numbers in the country could reach one million by the end of 2019, double the original estimate.
That is a massive jump compared from roughly a year ago when there were only 2,000 Romanian Revolut users.
In comparison, UK rival Starling Bank just announced that it was happy with having finally signed up one million accounts.
This is not the only international good news Revolut has had reason to celebrate recently. The company went live in Singapore in October after a deal with Mastercard gave it the muscles to expand into both Asia and Latin America.
The deal would also see it recruit 3,500 new employees around the globe, growing its total staff numbers to 5,000.
Back in the UK, Revolut may soon faced increased competition as free stock-trading app Robinhood is gearing up to launch in Britain in the first quarter of 2020.
That’s on top of Revolut having to compete with native rivals like Monzo and Atom bank.
The global challenger and neo bank market is set to grow at a compound annual growth rate of 40.4% in the next five years, estimated to be worth $30.1bn by 2025, according to research by ReportsnReports.com.
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