Revolut launches challenger of accommodation booking apps
The fintech unicorn Revolut has announced the launch of Revolut Stays – a new service added that would allow users to book accommodation via the Revolut app.
According to the company, the options will include all prices ranges, from B&B to hotel rooms and luxury guesthouses.
As an incentive, the company is giving a 10% cashback to the users that book their accommodation with Revolut Stays, while the company invites users to upgrade for more travel perks, like travel insurance and airport lounge access included in their plans.
The service was tested in the U.K. and is expected to be available in the E.U. and U.S. within the coming weeks.
In an announcement, Revolut says that in the test product the average customer spent in the U.K. is £437.59. Earlier this month, Revolut has raised around $800 million in a new funding round led by Softbank’s Vision Fund and Tiger Global Management, valuing the company at around $33 billion. That made the London-based company the most valuable fintech firm.
The new funding made it possible for the company to finance the Stays implementation thus challenge booking giants like Booking, Airbnb, Expedia and others. One can only wonder what will be next for Revolut and if it will really manage to shake the booking ecosystem.
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