Digital banking is growing like never before in Portugal. Revolut has more than two million customers in the country and the products it offers are particularly winning over younger audiences (from 18 years old). Investments in the stock market and in programs that work as an alternative to traditional savings accounts stand out.
Not national market, the number of investors in Revolut doubled in one yearat the same time as invested capital grew by almost 300%. Young people and young adults make the biggest contribution to this trend, due to their preference for capital markets.
The ease of these generations in using smartphones plays a decisive role here, as they allow you to make investments in national or international products, with just one click.
Diário de Notícias spoke with Ignacio Zunzunegui, Head of Growth for Southern Europe at Revolut, who reiterates the “new era of investment, via mobile phone” that we live between markets and investors (Portuguese and not only).
What is changing?
Founded in Lithuania, Revolut is present in dozens of countries. It allows you not only to deposit money and make payments or transfers, but also to make all types of investments. Now, here, more than half (56%) of investors are between 18 and 34 years oldwhich leads us to believe in a generational change in participation in the capital market.
“In the past, [fazer investimentos] it was more on the computer or physically, through the bank. Gradually, this stance is changing”, highlights the expert, who looks at the main reasons. “The customer seeks to achieve more savings through investment products”something that Revolut seeks to capitalize on.
On the other hand, Money Market Funds were launched last year and have aroused interest, particularly in Portugal. “It is the third country with the highest investment in this product.”
At issue is a alternative to traditional savings accountsas it benefits from “very low risk” and closely follows ECB interest rates. Now, according to the company’s manager, “our competitors are not offering competitive savings products, because they do not have interesting rates”, which allows Revolut to gain space in the market.
By regions, what can you check?
According to data gathered by the sector giant, with regard to regions, the North comes in first position, with significant growth in numbers, with regard to investment. This is the case of the Metropolitan Area of Porto (plus 305%) and Trás-os-Montes (plus 600%).
In any case, there is a clear phenomenon of dispersion, such that at the other end of mainland Portugal, the Algarve, there was an increase of 425%. This places the region in third place among the most relevant when it comes to investments in Revolut.
What is it contributing and how far can Revolut go?
In Portugal, in line with what happens in other countries, financial literacy is low, he recalls. Something that, in part, happens because “accessibility to this type of product was very low”, in addition to the fact that it was difficult to invest with low amounts, he recalls. For example, there were no fractional shares. All of this is something that Revolut offers as a solution to its customers, which allows you to “democratize investments”.
Consequently, This type of investing “is the future”highlights Ignacio Zunzunegui. On the other hand, the real estate sector remains at the top of Portuguese people’s preferences when it comes to investing. However, the trend is changing and, once again, it is starting with young people.
Between 18 and 24 years old, 44% prioritize shares, listed funds (ETFs), what puts this segment ahead of real estate (31%). The same happens in the 25 to 24 age group, with 47% versus 34%, respectively. In this regard, ETFs that track the S&P 500 (reference index on the New York Stock Exchange) bring together the largest share of choices.
The study was based on a sample of a thousand respondents aged at least 18 years, spread across 20 countries on the European continent, including Portugal.
In 2025, Revolut launched the possibility for accounts to have a Portuguese IBAN associated, along with the use of MB Way for payments and transfers. For the future, Ignacio Zunzunegui promises the launch of new savings products aimed (not only) at the national market.