Revolut and its customers raise over €10m for Red Cross Ukraine appeal

Revolut says that more than €10 million has been raised by its customers and the neobank through a charity appeal to help those impacted by Russia's invasion of Ukraine.

The funds will go to the Red Cross Ukraine appeal. 

Revolut is one of a number fintechs that has set up donation schemes to help those devastated by the conflict.

Revolut, headed up by Russian-born Nik Storonsky, said it raised more than €1 million in the first 24 hours of its charity appeal which kicked off on February 25.

On March 1, Storonsky, who has called Russia’s invasion of Ukraine “abhorrent”, announced a seven-day initiative which would see Revolut matching every donation made up to £1.5m.

More than 300,000 customers across 50 countries have donated to the appeal, Revolut said.

Revolut did not provide a breakdown of how much the bank had contributed to the fund.

The funds will be used to support Red Cross teams providing aid to Ukraine and its border countries.

Christopher Guttridge, head of Revolut’s donations team, said: “We are delighted to see the resounding support of our customers worldwide who have rallied behind the important work of the Red Cross. 

“Through our instant, fee-free donations and matching programme we are proud to use technology to speed vital support to those who need it most. 

“Everyone at Revolut is proud to be part of a British company with global reach assisting the Ukrainian people in their time of need. 

“Our customers’ generosity will enable many more people to benefit from the critical work of the Red Cross team on the ground in Ukraine and surrounding countries.” 

The International Red Cross said: “Communities in Ukraine have been bearing the brunt of eight long years of conflict. 

“Even before recent developments, this is a conflict that hits people daily on personal, psychological and emotional levels, bringing death, injury and separation from loved ones, as well as the huge mental toll of ongoing violence and insecurity.”