The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20Growth: How Revolut Acquired Their First 10M Users: Tips, Tactics and Strategies From the Revolut Product & Growth Playbook with Val Scholz, Former Head of Growth @ Revolut

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Jun 21, 2024
Val Scholz, former Head of Growth at Revolut, shares his expertise in scaling user acquisition to 10 million. He reveals key lessons from Revolut’s success and highlights the importance of referral marketing and innovative signup strategies. Val discusses the shortcomings of traditional marketing and offers fresh approaches for startups. He emphasizes data-driven decisions, effective hiring practices, and the role of influencer partnerships in driving growth. Get insights into building high-performance teams and revolutionizing product marketing in today’s competitive landscape.
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INSIGHT

Finding Your Niche

  • Target markets with less competition to gain early traction and momentum.
  • This allows for more efficient resource allocation and faster growth compared to battling established players head-on.
ADVICE

Referral Optimization

  • Optimize your onboarding process for speed and simplicity, enabling users to experience core value quickly.
  • At Revolut, the goal was for users to sign up and make their first transaction within five minutes.
INSIGHT

Referral Velocity

  • The speed of referrals matters more than the raw number of invites sent.
  • Focus on engineering the referral process to minimize the time it takes for users to invite others.
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