Revolut has partnered with Berlin-based fintech Upvest to launch an ETF trading platform for retail investors across Europe.
Customers of Revolut Securities Europe UAB will be able to access 158 ETFs for as little as €1 via its fractional shares offering.
Launched in 2019, the UK-based super app currently has around 29 million customers globally.
Rolandas Juteika (pictured), head of wealth and trading for EEA at Revolut, said: “When looking at possible partners to offer access to ETFs and stocks listed in EEA markets to our European customers, Upvest was our preferred selected choice.
“They offered the infrastructure that enabled us to offer ETFs to our customers in a short time, just after our EEA trading entity operationalization was completed.”
Former chief executive of Aberdeen Asset Management, now abrdn, Martin Gilbert is currently Revolut chairman.
Gilbert previously stated his biggest regret was not moving into the ETF industry when CEO of abrdn. He is also chairman of AssetCo, an investor of Rize ETF.
Retail trading of ETFs in Europe is set to be the next big growth driver for the wrapper across the continent, with neobrokers such as Scalable Capital and Trade Republic offering ETF saving plans in Europe.
Retail investors are expected to help triple ETF assets under management in Europe from $1.3trn to $3trn by 2027, according to PwC.
