The London-based fintech has hired a TikTok executive to lead a ‘media strategy’ as it seeks to diversify revenues
Revolut is exploring plans to monetise customer data through sharing it with advertising partners, as the fintech seeks new sources of revenue while its application for a UK banking licence remains in limbo.
“We know how navigate inside the app, we know some of their interests that they have because they’ve clicked on this and that,” the fintech executive added.Revolut has hired Inam Mahmood, former head of ecommerce partnerships at TikTok UK, to lead a sales team of about 30 people for its so-called media strategy.
The company must persuade investors that it can deliver sustainable profitability after it posted a £25 million pre-tax loss for 2022 — the latest available results — a year after turning a £40mn pre-tax profit off the back of a boom in cryptocurrency trading.
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