Interesting to see Revolut launching a travel booking feature. This is a great indication of the travel market brewing for a return with a bang - I believe the pent-up demand following the pandemic is a truly unique opportunity.
The move towards becoming a 'super app' somewhat explains the eyewatering $33bn valuation following Revolut's latest round of funding. Looking at the scale and user numbers of companies like Grab and GoTo in Southeast Asia and Alibaba and Tencent in China, it is clear why it is tempting to try replicate it here.
The big question is whether the 'super app' model could work in Europe. Significant competition aside, I am sceptical of this working under European regulations. 'Super apps' rely on having the freedom to hold customers' data from payments, travel, ride hailing, food ordering, social media, music streaming, etc.
Would we put this in the hands of one company?
Revolut launched a new feature Tuesday called Stays, which lets users book hotels and other accommodation through its app. Revolut is aiming to become what’s known as a “super app,” which offers multiple services through one interface.