Denis Opudo
Nikolay Storonsky alongside other partners launched Revolut startup in London in 2015. The startup pioneered the development of debit card for use across the continent. The card also allows holders to exchange currencies via interbank rates anywhere. Additionally, the debit card many currency account opening, transactions management and feeless payments. Currently, the startup handles about 130 currencies. These comprise of three cryptocurrencies and serves 1.5million clients. Through crowding campaign, the startup raised USD 86.4 with USD 5m from clients. The company plans to begin Russia operation by the end of this year. Nikolay also predicts that the use of cryptos will increase in many parts of the globe including Africa.
Co-founder of Revolution startup Mr. Nikolay Storonsky made observations during a recent interview. He noted that fintech ecosystem requires a legal framework, infrastructure, and banking system. Cryptocurrencies, blockchain in Eastern Europe are more advanced than in Western Europe. Yet, bitcoin fluctuations in both regions are unpredictable. For instance bitcoin fluctuated from USD (10,000- 40,000) and settled at USD 21,000.
Three mistakes startup encounter include inadequate advertisement, focus and hiring wrong people. He emphasized that an organization needs to scale its team when employees slumber. On tech trends, he mentioned artificial intelligence and virtual reality plus fintech. He also noted that plans are underway to incorporate biology and medicine in the trend.
