In Breif:
- Revolut purchased the WeWork office with bitcoin in Dallas.
- This is the first US expansion of Revolut with the largest US office.
- As a part of RevLabs real estate strategy, 70% of office space devoted to collaboration.
Revolut, the UK-based fintech firm, with 15 million global members, announced on 16th September that it is partnering with WeWork, one of the top global flexible space providers.
According to the deal, Revolut will take over the space of WeWork at 6900 Dallas Parkway in Dallas with 300 employees. It will serve as the company’s headquarters in the United States as a plan of US expansion. The deal payment will be done in Bitcoin.
“Revolut will also be WeWork’s first enterprise member to sign additional space using cryptocurrency, specifically bitcoin, as it establishes its largest office yet in the US,” the firm stated on Thursday.
According to Revolut, the move is designed to help the firm expand in the United States, but it also introduces a concept called “RevLabs real estate strategy.” According to the company, the first RevLabs branch in Melbourne is already open at the WeWork centre at 222 Exhibition Street.
As of Thursday, the corporation stated that “RevLabs will be built to facilitate collaboration and teamwork, with around 70% of office space devoted to collaboration.”
According to the statement, “the new format will cater to rapid headcount growth and provide spaces for creative thinking, brainstorming, training and knowledge exchange – some of the faces to face interactions that people have missed throughout the pandemic”. There will be both quiet zones and meeting areas.
At the Revolut event, Nick Giraudeau, WeWork’s global head of financial services sales, noted that flexible shared offices are great for growing firms. “WeWork is excited to be Revolut’s global real estate partner. We look forward to supporting their new standard for the future of work, with a progressive employee-led approach that prioritises flexibility, collaboration and choice”.
Revolut was launched in 2015 in the UK offering money transfer and exchange. It started offering trading in cryptocurrencies in 2017 but didn’t allow customers to transfer bitcoin out of the app. Though the firm started withdrawal of bitcoin in personal wallets in June 2021.
