Michael Sherwood

As per various sources, Revolut, a digital banking alternative for instant payment notifications startup founded in 2015 has recently appointed ex-Goldman Sachs Europe boss Michael Sherwood to its board. It was reported that the Fintech unicorn had suffered a rough start to 2019 as it was scrutinized by UK based financial authority the Financial Conduct Authority and the Advertising Advertising Standards Authority as well as the Lithuanian parliament over questions of its ability to combat illicit money transfers.

As reported by Financial times the Ex Goldman exec has had a fair share of his controversies as which included the sale of the failed department store BHS by Philip Green, however since his exit from Goldman after 30 years the Ex exec has kept a low profile.

Revolut has been previously dubbed as “The Amazon of Banking” and was founded by Vlad Yatsenko and Nikolay Storonsky, Revolut success in the Fintech industry has seen a massive rise as the fintech unicorn has raised over $336.4 million in 12 rounds of fundings. The firm has about 3.2 million customers on its platform right know. The fintech unicorn specializes in  banking services including a pre-paid debit card (Mastercard or Visa), currency exchange, cryptocurrency exchange and peer-to-peer payments.

 

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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