Digital payments company Revolut has expanded into the travel accommodation booking business in Ireland, putting it in direct competition with industry heavyweights such as Trivago, Booking.com and TripAdvisor.
The company has launched its Stays travel accommodation booking service in Ireland, having only established it last month with a UK launch.
Further deployments in continental Europe and the United States are expected shortly.
While initially focusing on booking accommodation, Revolut said Stays will expand to include the ability to book flights, car rentals and travel experiences.
The company said that in 2019 – the last year of normal travel without Covid complications – its users in Ireland spent an average of €215 on accommodation and €131 on flights.
Revolut already offers some travel features, including worldwide travel insurance, flight delay and lost baggage insurance, free currency exchange, theft and damage cover, and cover for missed events and tickets.
All bookings can be made through the main Revolut app with no booking fees.
Revolut said Stays marks a first for a fintech company and is the next step in its plan to create a digital platform for all things money in one place.
“We designed Stays to make it easy for people to find and book their perfect stay in their ideal destination. After 18 months of endless restrictions and lockdowns, we want to give people more and take their money further. Revolut is becoming the go-to app for travel,” he said.
Revolut – which recently raised another $800 million, valuing the business at $33 billion – already has ambitious growth plans. She is currently seeking banking licenses in Ireland, the United States, Great Britain and Continental Europe.
It already operates as a bank in 10 European markets, including Greece, Latvia, Estonia, Croatia and Cyprus.
A full banking license here would allow Revolut to offer credit cards, loans and current accounts to customers in Ireland.
He also applied for an e-money license here.