Revolut CEO calls for post Brexit tech talent visas as it passes 4m customers

By Daniel Lanyon on 21st February 2019

Challenger Banks

Nik Storonsky has called on the UK Government to introduce specialised, fast-tracked visas for technology professionals, particularly in the fields of software development and data science.

Revolut CEO calls for post Brexit tech talent visas as it passes 4m customers

Will London remain a global fintech powerhouse post leaving the UK leaving European Union? The boss of one of the UK’s biggest banking challengers believes specialised tech visas should be prioritised.

Nik Storonsky, the CEO of Revolut, says the UK Government should create specialised visas for technology professionals, particularly in the areas of software development and data science to boost UK-based tech companies to create more jobs. The London-based fintech says it is planning to double its workforce in the UK over the next few months.

“When I settled in London thirteen years ago, I found a community that didn’t care where you came from. They were only interested in who you were and what you had to offer. It was at this point that I knew London would be the city that I would call home, and the city where I would go on start my own business,” he said.

"Right now, there is no doubt in my mind that London is the best place to build and grow a fintech startup. However, there is a serious lack of homegrown technical talent here, which is why around seventy percent of our software engineers and data scientists are recruited from abroad.

"With all of the political uncertainty kicking off right now, lengthy immigration processes and bureaucracy will only slow down the UK fintech industry's growth and we risk losing out on the best talent to other EU countries such as Germany and France."

Launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, Revolut now has four million customers and is opening more than 10,000 new accounts daily, it says.

To date, Revolut has raised approximately $340m in investments, from venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.

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