Revolut vs N26

Revolut and N26 are new generation banks on App only. The initial idea of Revolut was travel card with free currency exchange. N26 has also this feature. Later on, with my personal experience I found out that you may be be charged up to 3% markup if you paid Revolut vs N26 in Thailand on the weekend. Other features of both apps are: free wire transfers, free cards, insurance.

 RevolutN26
Free withdrawal in Spain200€5000€
User experienceClear winner. Super easy and intuitive.The could just copy the Revolut here 🙂 especially that the card number could be visible in the app
Customer supportin app. with delaysold school email writing.
Apple PayNOYES
CryptocurrenciesBTC, ETH, LTCnone

I have been using both services for more than 15 months. I would say the Revolut was better in the beginning, but then were were two reasons why i switched to N26

  1. I reached the spend limit in Revolut and lifting 3 times was pain in the ass, and finally i was too bored to do that again.
  2. I need more than 200€ of cash every month.

Which is better?

If I could choose only one, i would choose N26 just because of the withdrawal. In general having both is good option and sometimes convenience especially if that card is dominant card in your country – so you can send money easy for your nanny or split the bills with friends.

Thailand, Malaysia (Russia and Ukraine)

Revolut puts a Markup on those currencies (THB, MYR, RUR) for purchases and ATM. So if you travel to those countries – definitely get the N26. N26 ads only 1.7% markup for ATM transactions, but with N26 black card this is 0%. (if you take 4k € / year in one of those countries, the cost of the Black card pays off. Not to mention other perks such as insurance)

My tips:

Get rid of your old school bank and get both

Revolut exchange rate on weekends rises.

For small businesses Revolut business product is quite expensive – 300€ / year, so get Paysera corporate account if you do not do currency exchange.

p.s. I am investor in Revolut

BillionToOne investment

I have invested in Billion To One a startup that is trying to make prenatal testing easy/cheap and safe. Even though i stopped my first ”fund” of startups, I have chosen to invest in this particular one because i believe and support their mission:

Our mission is to make prenatal diagnostics safe and affordable for all.

If there will be 1% advance in prenatal testing made and  i will lose all my investment – I will be happy with the outcome

Startup vs ICO. Revolut vs TenX

I have invested in Revolut, my friend invested in TenX. Both have a similar service: free currency exchange bank card

 RevolutTenX
Valuation55M (2016 June)80M (2017 June)
Does it have a product?Yes. 200k users at that time.Not public. 1000 Beta testers.
New users per day15000
Competitive advantageFree currency exchange0.1% cashback on spent cryptocurrency
CompetitorsN26Mona.co
valuation 2017 08420M420M
active users 2017 08500.0000

After Revolut announced that it will ad 3 main cryptocurrencies to its app – what is the competitive advantage of TenX then?

What valuation would i give?

5-10M: ±12 times! less than it is now. Competitor Monaco has now a 9M valuation

my startup portfolio

I am trying different investment vehicles / asset classes to find out where can i have the edge. Investing in startups was one of them 2014-2016. I have made 9 investments in startups via Angel List, Crowdcube, Seedrs (UK) and Wefunder. The idea was that i can beat the funds which make nonsense investments. (yes yes. i know ‘beat the market’)

yearstartupinvestedfollow on round
2014Wefunder1.5exited with 7% roi
2014BoxC1
2014Soothe1second skipped. third 0.6. current valuation 2.8
2014Enevo0.95skipped
2015Italist1.25
2015Molekule0.5
2015Skyfront0.5
2016Revolut0.6currently valued at 3.0 (received a cash offer)
2016Gone0.3
total invested6.1 (excluding Wefunder)
current valuation (Revolut + Soothe 2d) 5.8

2017 August. Revolut. Attracted 66M investment at 420M valuation. I got a cash offer to sell my shares at x5. Decided to keep, because i believe Revolut can be 4-40 billion company. With exit from Wefunder and current Revolut and Soothe valuations i am close to break-even.

Reading list:

Mentors and Advisors

Startup investing math

Holibike project diary

The vision of Holibike project is easy bike rentals everywhere.

November 11th. First 4 bikes parked in Las Palmas de Gran Canaria port. Android app launched.

November 17th. IOS app released

November 19th. All bikes are in the places. None of them were rented. The problem: How to make them more visible. Testing with spray. Decided to make stencils for the bikes.

December 4th. None bikes stolen.

December 5th. First hotel in Las Palmas:  AC Hotel Iberia asked to bring 2 bikes.

December 6th. 2 more bikes parkes in Parque San Telmo. Total bikes active 7. Stolen 0. Rented 0.

December 10th. Talked to couple from Britain, how did they find their bike rent in Las Palmas. The answer was googled. Idea: invest in exact match keywords in google.

December 11th. Started contacting by email people who downloaded app, but didn’t make a rent. Rents 0

December 27th. Moved 4 bikes to Fuerteventura.

January 9th. First customer. Unfortunately it was offline sale, not online. While visiting hotel Exe regarding partnership at the same time i met a lady who wanted to rent a bike

January 27th decided to close the project. 4 bikes stolen. 4 bikes damaged. (lamp, saddles stolen, basket broken)

January 31st. Sold bikes

total loss: 10k €

lessons learned:

  1. one source of marketing isn’t enough to make sales
  2. people steal 10€ worth items
  3. bicycle rent is very profitable business if you have cheap service

stolen  bikes:

BYP1630300206 2

BYP160300293 18

Business ideas

Bicycles

– Plant rent (i am staying in apartment with terraze and want to put some plants for 4months and would like to rent them)

– Home Plant watering robot

Urban/Commute bike coffee shop in Las Palmas

– Online used bicycle shop with warranty.

– Rent shity properties for 10 years. Renovate. Re-rent short term. (Contacted 4 properites where i see potential if they would be interested in 10 year lease)

– airbnb management company

– spanish REIT via housers

– company registration address in Estonia. (i found out how much i pay a year and was shocked)