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Business deals

UK's fastest-growing fintech startup Revolut enters Asian fray

Russian-born CEO says no-fee money transfers suit frequent travelers

Shibuya Crossing, a popular tourist area in Tokyo. London-based Revolut will first cater to travelers and expats as the fintech company enters Japan.    © Reuters

TOKYO -- Financial technology companies in Asia face a new competitor, as British digital banking startup Revolut says it has entered the Japanese market with plans to expand elsewhere in the region.

Revolut, founded in 2015, is Britain's fastest-growing fintech player, with 2.8 million users across 28 markets in Europe. It arrives in Japan through a partnership with billionaire Hiroshi Mikitani's Tokyo-based e-commerce group Rakuten.

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