Revolut reveals how its move into business banking is going

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Revolut launched business banking over the summer (Source: Revolut)

Digital challenger bank Revolut has given a glimpse on how the recent launch of business accounts is going.

The fintech startup has signed up more than 16,000 companies since June when it officially got into business banking.

That's an opening rate of 40 new accounts per day, and more than 4,000 businesses signed up in June alone, giving Revolut its best ever month.

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Between them, they have made transfers worth £25.3m with the business account, which costs between £25 and £1,000 per month depending on a company's size. 

“Revolut for Business was born out of our frustrations with the pains of opening and managing business accounts in the UK and abroad," said Nikolay Storonsky, the founder and chief executive.