The financial technology (fintech) sector continues to be a hotbed of innovation, with companies emerging to challenge traditional financial systems and address unmet needs. Two notable examples from the Disruptor 50 list, both making their first appearance, Revolut and Esusu, demonstrate diverse approaches to disrupting the financial landscape. Revolut aims to build a global financial super-app, while Esusu focuses on tackling credit invisibility through rent reporting.

Revolut: The All-In-One Global Finance Platform

Founded in 2015 by Nik Storonsky (CEO) and Vlad Yatsenko, Revolut, headquartered in London, is making its debut on the Disruptor 50 list. It has rapidly grown into a major force in digital banking, boasting over 50 million users across more than 48 countries. With $1.7 billion in funding, the company holds a valuation of $45 billion. Revolut positions itself as an "all-in-one finance app," offering a comprehensive suite of services including multi-currency accounts, debit cards, stock and cryptocurrency trading, and savings accounts. Its subscription model ranges from a free tier to premium options bundled with perks like travel benefits and higher interest rates.

A significant milestone for Revolut was obtaining its full UK banking license in July 2024, after nearly a decade of operating as a licensed electronic money institution (EMI). This new license allows Revolut to expand its product offerings into areas like credit cards, personal loans, and mortgages in its home market. Chief Financial Officer Victor Stinga acknowledged the thoroughness of the regulatory process with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), stating, "As you can imagine, at this scale, it's a thorough process, and we just pay a lot of attention to it. We work very closely on a close contact with the PRA and the FCA on it. We feel like we're making great progress on it." The company is also actively pursuing or has received banking licenses in other international markets, opening new branches in Germany, Romania, and Switzerland in 2024, and has announced expansion plans for Mexico, Australia, and Colombia.

Revolut has also been active in launching new platforms and forming strategic partnerships. Last year, it launched Revolut X, a crypto trading platform now available in 30 countries within the European Economic Area. Furthermore, in November of the previous year, the U.K. granted Revolut a license for trading U.K. and E.U.-listed stocks and exchange-traded funds. A partnership with Visa, announced in August 2024, enables Revolut Business customers to send funds globally using the Visa Direct system. Despite its success, Revolut has faced challenges, notably the rise of authorized push payment (APP) scams targeting its customers. While UK lawmakers are pushing for banks and fintechs to compensate victims up to £85,000 (or about $113,500), Revolut has argued that other entities, such as social media platforms like Meta, should also share responsibility for these losses.

Financially, Revolut stands out among its fintech peers by achieving profitability. Its net profit for 2024 totaled £1.1 billion ($1.5 billion), representing a 149 percent year-over-year increase. This strong financial position supports its ambitious expansion plans and a potential Initial Public Offering (IPO).

Esusu: Building Financial Security Through Rent Reporting

Addressing a critical issue in the U.S. financial system, Esusu, launched in 2016 by Wemimo Abbey (CEO) and Samir Goel, also marks its first appearance on the Disruptor 50 list. The company focuses on the nearly 50 million "credit invisible" Americans – a group disproportionately comprising low-income and minority individuals who lack a credit history with major bureaus like Experian, Equifax, and TransUnion, thereby facing significant barriers to financial security. Headquartered in New York City, Esusu has garnered $145 million in funding and is valued at $1 billion.

Esusu's innovative solution involves recording on-time rental payment data and reporting it to credit bureaus. This practice, not traditionally factored into credit reports despite the known positive impact of on-time mortgage payments, helps individuals build credit. Since its inception, Esusu has helped renters generate over 200,000 new credit scores and has raised existing credit scores by an average of over 100 points. This system also benefits property managers by encouraging timely rent payments. The founders, Abbey and Goel, whose families immigrated from Lagos, Nigeria, and New Delhi, India, respectively, were motivated by their own families' financial struggles. Goel shared with CNBC in a 2021 interview, "When my folks moved here, our journey to pursue the American Dream was just harder than it should have been. I remember just watching my parents work miracles with no credit and limited financial resources. Abbey and I like to say we are inspired by our experiences."

Esusu has established itself as a key rent reporting provider for major players in finance and real estate, including Goldman Sachs, Mercy Housing, and Cushman & Wakefield. It also holds partnerships with Fannie Mae and Freddie Mac to expand rent reporting nationally. Last year, Esusu broadened its reach by launching "myEsusu," a direct-to-consumer application. Previously available only to renters in participating properties, myEsusu now allows all renters to use its services. It offers a free account or a premium membership ($2.50 per month or $29.99 per year) that includes additional tools such as gaining credit for timely rent payments, learning about credit-building products, viewing a credit score hub, and accessing financial resources. The company has also attracted backing from tennis legend Serena Williams' venture capital firm, Serena Ventures.

Pioneering Change in Fintech

Both Revolut and Esusu, despite their different focuses and scales, exemplify the transformative potential of fintech. Revolut's ambition to create a global, all-encompassing financial platform is matched by Esusu's targeted approach to fostering financial inclusion and empowering underserved communities. Their continued growth and innovation, recognized by their inclusion in the Disruptor 50 list, highlight the dynamic nature of the financial services industry and its ongoing evolution driven by technology.