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20VC: Revolut Founder Nikolay Storonsky on His Leadership Style and Relationship To Ambition, His Biggest Lessons From Scaling Revolut Globally; What Worked, What Did Not & Why Speed of Product Shipment is The Most Important Thing

Apr 12, 2021

Nikolay Storonsky, the Founder and CEO of Revolut, discusses his transition from derivatives trading to fintech. He shares insights on leadership styles and the impact of ambition, detailing how his competitive spirit shapes his approach to business. Nikolay emphasizes the critical importance of product shipment speed and his strategic prioritization process. He also reflects on overcoming self-doubt and the challenges of global expansion, underscoring his vision for Revolut in the evolving landscape of consumer finance.

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ANECDOTE

Revolut's Origin

Nikolay Storonsky's frustration with banking structures and managers led him to start Revolut.
He believed he could create a better banking experience.

INSIGHT

Trading Background

Nikolay's derivatives trading background at Lehman and Credit Suisse taught him resilience, focus, and data-driven decision-making.
These skills proved invaluable in navigating the challenges of building Revolut.

ADVICE

Leadership Style

Set quantifiable and measurable goals for your team.
Give them freedom to achieve goals and intervene when progress stalls.

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Nikolay Storonsky is the Founder & CEO @ Revolut, one of the world's largest and fastest-growing fintechs offering everything from personal to business banking, providing a better way to manage your money. To date, Nikolay has raised over $905M with Revolut from Ribbit, Index, DST, Balderton and Bond Capital to name a few. Nikolay has scaled Revolut to over 2,000 employees across 4 continents. Before changing the world of neo-banking, Nikolay spent 8 years as a derivatives trader at both Lehman Brothers and Credit Suisse in London.

In Today’s Episode with Nikolay Storonsky You Will Learn:

1.) How Nikolay made his way into the world of startups from derivatives trading and how that led to his changing the world of fintech with Revolut?

2.) How would Nikolay describe his style of leadership today? How did his time in banking impact his operating style? What elements has Nikolay found the hardest to scale into as a leader? How does Nikolay assess his relationship to ambition? What drives him today? How does Nikolay deal with self-doubt and vulnerability in leadership?

3.) Why does Nikolay feel the most important thing in a company is the speed of product shipment? From a product perspective, how does Nikolay determine what to do next vs what to do later? What does that prioritisation process look like? Has it changed over time?

4.) How does Nikolay think about gepgraphic expansion today? Given Monzo's challenges in the US, why did Revolut decide the US remained a good strategy? What does it take to launch and scale a new country? How does Nikolay think about the relationship between growth and profitability? What companies does Nikolay admire most for their international scaling?

Item’s Mentioned In Today’s Episode with Nikolay Storonsky

Nikolay’s Favourite Book: Principles by Ray Dalio (PDF)

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