Revolut takes on Robinhood with its own app

The app, called Revolut Invest, will offer nearly 5,000 assets on debut. — Bloomberg

LONDON: Revolut Ltd, Europe’s most valuable financial technology (fintech) company, is spinning out its €8.5bil wealth management offering into a standalone app, seeking to compete against the likes of Robinhood and eToro for a greater slice of the retail investor market.

The app, called Revolut Invest, will offer nearly 5,000 assets on debut, including US and European stocks, exchange-traded funds, commodities and bonds, as well as new products such as contracts for difference (CFD).