The neobank has acquired London-based Nobly, founded in 2013, which has developed an electronic point-of-sale (ePOS) system for restaurants and other hospitality businesses.
Revolut has snapped up a hospitality industry technology provider, as it looks to become a "one-stop shop" for its customers to manage their businesses and finances on a single platform.
Revolut, one of the poster children of the neobank movement, has acquired London-based Nobly, founded in 2013, which has developed an electronic point-of-sale (ePOS) system for restaurants and other hospitality businesses.
The system helps them to manage operations, payments, inventory, table service, loyalty programmes, and online ordering in one app.
Nobly currently serves merchants across the UK, USA and Australia.
Its technology will be integrated with Revolut’s payment hardware and payment processing offering.
Revolut says the purchase will allow its hospitality customers to “open a digital account, use FX, issue cards and seamlessly manage and sell their products and accept payments online and offline from the single Revolut Business environment saving time and reducing direct costs for its customers”.
In future, Revolut plans to launch it across all its markets.
No financial details of the deal were disclosed.
Nik Storonsky, CEO of Revolut, said: “The Nobly team has built a great product and expertise which will further advance our mission to offer a one-stop shop solution to enable merchants of every kind to manage their finances and run their businesses from a single platform.
“Nobly’s ePOS product will enhance our existing Revolut Business offering to make life easy for hospitality businesses. We look forward to working with the team to build more features to support our strong growth.”
George Urdea, co-founder and CEO at Nobly POS, said: “We built Nobly to enable small business owners and their teams to better serve their customers. Joining Revolut opens the exciting possibility to take the merchant-consumer experience to the next level, by bridging the rich point of sale data with Revolut’s financial super app.”
Revolut is one of the leading lights of the new wave of banks gaining traction across Europe. One of its next moves is to move into the crypto arena.