Nik Storonsky

When Nik Storonsky was in the ninth grade, he won the International Economics Olympiad – an annual competition for high school students across 68 countries. In the 11th grade, he won it again. While many of his peers were getting support from their parents in preparing for these competitions, Nik was on his own, driven by his competitive nature, he worked extra hard to compensate for the shortfall in help. This work ethic is something that has stayed with him as he has built one of the most successful and valuable start-ups in Europe – Revolut.

Nik was born in 1984 in Dolgoprudny, a town located about 20 kilometers north of Moscow's city centre. Growing up in Moscow during the fall of the USSR and the rise of capitalism, instilled a drive in him to build something of his own. Academically, he was an overachiever in physics, maths and economics and attended the Moscow Institute of Physics and Technology (MIPT), where he studied physics. Later, he moved to London and worked as an equity derivatives trader at Lehman Brothers. After the collapse of the bank in 2008, he moved to Credit Suisse. These roles gave Nikolay valuable insight into the inner workings and frustrations of the financial industry.

As well as his critique of the structures of traditional banking, Nik was also experiencing frustrations as a customer – namely the cost of spending money overseas. In 2015, combining his technical expertise and industry experience, Nikolay teamed up with software engineer Vlad Yatsenko to launch Revolut. Their mission was clear – to build a global financial app that would simplify currency exchange, spending, and investing, making financial services affordable and accessible to all. The company’s initial product, a prepaid card and app allowing users to hold and exchange multiple currencies at interbank rates without hefty fees, quickly became a game-changer for travellers and those living or working abroad.

Revolut rapidly expanded its product offerings to include budgeting tools, cryptocurrency trading, stock investing, insurance, and business accounts. By 2024, the company had grown to 52.5 million users globally, with profits hitting $1.4 billion. It was granted a UK banking license – three years after lodging its application, subject to a mobilisation stage. This will elevate the status of Revolut from an “e-money firm” to a fully operational bank with deposits protected by government guarantees. 

Nik’s entrepreneurial style is marked by a strong commitment to innovation and speed. He works long hours and expects his team to do the same to achieve their goals. Nikolay remains hands-on, staying closely involved in product development and customer feedback, ensuring Revolut stays ahead of market trends and competitors.