Revolut's CFO Mikko Salovaara exits fintech company for 'personal reasons'

By Daniel Lanyon on Thursday 11 May 2023

Digital BankingSavings and InvestmentCrypto

The departure comes two months after Revolut's long-awaited 2021 financial results and two years since Mikko Salovaara joined the company.

Revolut's CFO Mikko Salovaara exits fintech company for 'personal reasons'
Image source: Revolut

Revolut's chief financial officer Mikko Salovaara has resigned from the company with immediate effect. 

Salovaara joined Revolut, which is currently seeking its much-delayed UK banking license, in January 2021. Coincidentally, at exactly the time it submitted its application.

His first role was VP Finance, before becoming Group CFO in April 2021. He lead Revolut’s global finance function and worked very closely alongside the company’s CEO and co-founder, Nik Storonsky to "define and drive the company’s financial strategy and planning, to strengthen financial processes, systems and controls and to optimise the company’s capital structure and allocation, all with an aim of delivering sustainable growth."

That first year, as its much-delayed accounts showed when published in March 2023, the company turned its first profit.

When Salovaara joined the company, Revolut had 15 million customers globally. Today that figure has almost doubled to 29 million. 

“I am grateful for the opportunity to serve as Group CFO at Revolut and remain confident in the firm’s future success,” said Salovaara.

“I thank Mikko for his contribution and wish him well on his next steps," said Nik Storonsky, CEO and co-founder.

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