Revolut takes flight with launch of new airport lounges

Revolut, the digital banking company, is set to expand its physical footprint in Europe with the opening of airport lounges. The firm plans to introduce premium lounges in its priority markets starting from next year. Copenhagen Airport will be the first to host Revolut's new lounges in 2027, as confirmed by Hadi Nasrallah, director of Revolut's New Bets division.

The partnership with Plaza Premium Group, which manages the world's largest network of airport lounges, will make this possible. This move follows Revolut's recent announcement of its first physical store in Barcelona, which will serve as an "immersive space" rather than a traditional bank branch. The company believes this investment in the travel market demonstrates its ambition to grow beyond financial products.

Over the past year, Revolut has been diversifying into lifestyle segments, offering mobile plans and consumer perks to enhance its subscription plans. Its revenue reached £4.2bn in the last year, a 46% increase from the previous year, with subscriptions contributing 67% of the growth. Revolut has also partnered with WeWork, granting access to a network of locations across Europe for its paid subscribers.

Additionally, the fintech has replaced its Perplexity Pro plan benefit with a new collaboration with ChatGPT for its premium subscribers. Founded in 2015, Revolut is currently in the process of a secondary share sale, aiming to value the company at $115bn, a significant increase from its last estimated worth of $75bn.