Ten Lifestyle Secures New Large Contract With Fintech Firm Revolut - Morningstar

(Alliance News) - Lifestyle and travel platform company Ten Lifestyle Group PLC said Monday it has won a three-year contract with UK-based neobank Revolut Ltd.

Under the contract, Ten Lifestyle will integrate its lifestyle and concierge services into Revolut's mobile app, allowing holders of the Revolut Metal card offering to request, travel, dining and ticket bookings.

The contract is expected to be a significant one in Ten Lifestyle's financial year ending August 2020, which is worth more than GBP2.0 million in net revenue per year.

"We are delighted to secure this contract with Revolut, one of the world's fastest growing fintech companies, founded in 2015 and currently used by more than four million customers," said Chief Executive Officer Alex Cheatle.

"Revolut has developed significant innovations in the banking industry in a short period of time and we are confident that Ten will help further advance their proposition to Metal cardholders in selected markets internationally by providing market-leading access to travel, dining and entertainment services around the world," Cheatle added.

Shares in Ten Lifestyle were up 2.7% at 96.0 pence on Monday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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http://www.morningstar.co.uk/uk/news/AN_1561372585696153400/ten-lifestyle-secures-new-large-contract-with-fintech-firm-revolut.aspx

2019-06-24 10:36:00Z
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