Nikolay Storonsky
{{short description|British businessman and entrepreneur (born 1984)}}
{{Use dmy dates|date=April 2022}}
{{Infobox person
| image = 2022 - Centre Stage HM3 3900 (52472531881).jpg
| image_size =
| caption = Storonsky in November 2022
| other names = Nik Storonsky
| native_name = Никола́й Никола́евич Сторо́нский
| native_name_lang = ru
| birth_name =
| birth_date = {{birth date and age|1984|07|21|df=y}}
| birth_place = Dolgoprudny, Russian SFSR
| death_place =
| occupation = Businessman
| spouse =
| children =
| relatives =
| website =
}}
Nikolay Storonsky (born 21 July 1984) is a Russian-born British entrepreneur. He is best known as the co-founder and CEO of Revolut and the founder of venture-capital firm [https://quantumlightcapital.com/ QuantumLight]. Revolut is now operational in more than 35+ countries and serves 50 million customers. The company is valued at $45 Billion as of August 2024.{{Cite news |date=August 16, 2024 |title=Revolut joins Europe's biggest banks with $45 billion valuation after share sale |url=https://www.reuters.com/business/finance/britains-revolut-valued-45-bln-share-sale-2024-08-16/ |work=Reuters}}
Early life and career
Storonsky was born on 21 July 1984{{Cite web |last=Treanor |first=Jill |date=10 September 2022 |title=Revolut chief Nikolay Storonsky: We can still be banking's super app |url=https://www.thetimes.com/business-money/economics/article/revolut-chief-nikolay-storonsky-we-can-still-be-bankings-super-app-ttq8mdhtt |work=The Sunday Times}} in Dolgoprudny, a town located about 20 kilometers North of Moscow's city centre.
As a child, Storonsky boxed and took up swimming as a teenager, becoming a state champion later at his university. He is also keen kite surfer and a mountaineer in his free time. He always dreamed of becoming an entrepreneur since childhood, and started reading books on economics and business when he was six.{{Cite web |last=England |first=Joanna |date=2022-09-02 |title=Fintech Trailblazer Nikolay Storonsky, Revolut's dynamic CEO |url=https://fintechmagazine.com/banking/Fintech-trailblazer-Nikolay-Storonsky-Revoluts-dynamic-CEO |access-date=2024-12-01 |website=fintechmagazine.com |language=en}}{{Cite web |last=Денисов |first=Олег |date=2022-03-05 |title=Николай Сторонский о начале карьеры и создании Revolut |url=https://secrets.tinkoff.ru/lichnyj-opyt/storonskiy-revolut/ |access-date=2024-12-01 |website=Бизнес‑cекреты |language=ru-RU}} His father, Nikolay Mironovich Storonsky,{{Cite web |last=BNS |title=LRT: отец главы Revolut Сторонского работает в "Газпроме" |url=https://www.delfi.lt/a/80164183 |access-date=27 March 2019 |website=DELFI}} has been Deputy General Director of Science for the natural gas research institute Gazprom Promgaz.
He completed his master's degree in General and Applied physics at the Moscow Institute of Physics and Technology.{{cite web |date=18 February 2018 |title=Revolut's Nikolay Storonsky on long hours and high staff turnover |url=https://www.ft.com/content/6f26d10a-051d-11e8-9650-9c0ad2d7c5b5 |access-date=16 May 2018 |website=Financial Times}} He graduated with another Master's in Applied Economics and Finance at New Economic School in Moscow.
Storonsky started his career as an equity derivatives trader at Lehman Brothers from 2006 - 2008 and later moved on to work at Credit Suisse where he continued till 2013. Storonsky moved to England in 2004 and later acquired British citizenship.
In 2022, Storonsky condemned the Russian invasion of Ukraine{{cite web |date=2022-03-03 |title=War is never the answer: Revolut's Russia-born co-founder Nik Storonsky condemns the invasion |url=https://siliconcanals.com/news/revolut-nik-storonsky-condems-russia-ukraine-war/ |accessdate=2022-04-19 |publisher=Silicon canals}}
and renounced his Russian citizenship.{{cite web |author= |date=October 31, 2022 |title=Fourth Billionaire Renounces Russian Citizenship Over Ukraine |url=https://www.themoscowtimes.com/2022/10/31/fourth-billionaire-renounces-russian-citizenship-over-ukraine-a79242 |accessdate=January 29, 2023 |publisher=themoscowtimes.com |language=}} In his open letter, he also pledged that Revolut will match every donation made to the Red Cross Ukraine in solidarity with victims of the war.{{Cite web |date=2022-03-01 |title=A personal letter from our CEO {{!}} Revolut blog |url=https://www.revolut.com/blog/post/a-personal-letter-from-our-ceo/ |access-date=2025-01-15 |website=Revolut |language=en-GB}}
Revolut
Storonsky's experience as a trader gave him a deeper understanding of the global finance and the challenges faced by consumers and businesses who need to move money across borders, which eventually led to him founding Revolut in 2015 together with Vladislav Yatsenko.{{cite web |date=2021-07-15 |title=Revolut co-founder Nik Storonsky set to join the multibillionaire club |url=https://www.theguardian.com/global/2021/jul/15/revolut-co-founder-nik-storonsky-set-to-join-the-multibillionaire-club |accessdate=2022-04-19 |work=The Guardian}}
The idea of the company came when, while travelling, he was dumbfounded by the high transaction fees and commissions levied by banks.{{Cite news |last=Reggiori |first=Tommy |date=August 22, 2024 |title=Who is Revolut's Nik Storonsky, the CEO taking on the banks? |url=https://www.reuters.com/markets/europe/revoluts-storonsky-takes-big-step-forward-battle-with-banks-2024-08-22/ |work=Reuters}} His first idea was a multi-currency bank card that would allow currency conversion while traveling at a favorable rate.{{Cite web |date=2021-07-15 |title=Стартап, очаровавший Грефа и Тинькова: как выпускник МФТИ создал бизнес на $33 млрд |url=https://www.forbes.ru/finansy-i-investicii/375113-startap-ocharovavshiy-grefa-i-tinkova-kak-vypusknik-mfti-za-4-goda |access-date=2025-01-19 |website=Forbes.ru |language=ru}}
The Revolut platform was created to allow travellers to spend in over 90 countries.{{Cite web |title=Which countries can I send a card transfer to? {{!}} Revolut United Kingdom |url=https://help.revolut.com/help/transfers/outbound-transfers/card-transfers/which-cards-can-i-send-money-to/ |access-date=2025-01-19 |website=Revolut |language=en-GB}} Revolut offers accounts and debit cards for fee-free spending abroad at real exchange rates.{{Citation |title=Revolut |date=2025-01-19 |work=Wikipedia |url=https://en.wikipedia.org/wiki/Revolut#cite_note-22 |access-date=2025-01-19 |language=en}}
In 2021, Revolut became the most valuable fintech firm in the UK.{{cite web |date=2021-07-15 |title=Revolut becomes UK's biggest fintech firm with £24bn valuation |url=https://www.theguardian.com/business/2021/jul/15/revolut-becomes-uk-biggest-fintech-firm |accessdate=2022-04-19 |work=The Guardian}}
As per the 2023 annual report, Revolut achieved a revenue of 1.8 billion GBP, with a net profit of 344 million GBP. As of November 2024, the company serves 50 million customers globally and has more than 10,000 employees. The company is valued at $45 Billion as of August 2024.{{Cite web |last=jhaxell |date=2024-11-19 |title=Revolut surpasses 50 million global customers, aims for 100m milestone |url=https://fintech.global/2024/11/19/revolut-surpasses-50m-global-customers-aims-for-100m-milestone/#:~:text=Revolut%20surpasses%2050%20million%20global%20customers,%20aims%20for%20100m%20milestone,-November%2019,%202024&text=Revolut,%20the%20UK-based%20FinTech,are%20based%20in%20the%20UK. |access-date=2025-01-19 |website=FinTech Global |language=en-GB}}{{Cite web |date=2024-04-24 |title=Revolut expects to boost workforce by 40% in 2024; as company reaches 10,000 employee milestone |url=https://www.revolut.com/news/revolut_expects_to_boost_workforce_by_40_in_2024_as_company_reaches_10_000_employee_milestone/ |access-date=2025-01-19 |website=Revolut |language=en-GB}}{{Cite web |last=Kiderlin |first=Sophie |date=2024-08-16 |title=British fintech Revolut valued at $45 billion in secondary share sale |url=https://www.cnbc.com/2024/08/16/british-fintech-revolut-valued-at-45-billion-in-secondary-share-sale.html |access-date=2025-01-19 |website=CNBC |language=en}}
QuantumLight Capital
In 2022, Storonsky launched [https://quantumlightcapital.com/ QuantumLight] a quantitative venture capital firm relying on algorithms and artificial intelligence over human input to source deals. QuantumLight developed a proprietary AI system named “Aleph”, to identify promising investment opportunities.{{Cite web |title=Quantum Light Capital |url=https://quantumlightcapital.com/}} QuantumLight claims that Aleph tracks the entire universe of venture-backed companies since the ’90s, to determine “robust and stable success patterns”.
QuantumLight supports startup founders by sharing Storonsky’s best practices for building high-performance scale-ups, influenced by his experience as the founder of Revolut. The firm has recently begun publicising some of these best practices to a wide audience, with the launch of “Driving High Performance” in September 2024.{{cite web | url=https://quantumlightcapital.com/playbooks/performance-management | title=QuantumLight Playbooks }} The book was widely publicised and shared in the technology community, being referenced by investors such as Index Ventures {{cite web | url=https://www.linkedin.com/posts/martinmignot_the-most-valuable-private-tech-company-out-activity-7244946255523540992-4GGY | title=Martin Mignot on LinkedIn: The most valuable private tech company out of Europe right now published… | 59 comments }} and large publications like Forbes and Fortune.{{cite web | url=https://www.forbes.com/sites/davidprosser/2024/09/10/lessons-from-revolut-how-startups-can-help-their-staff-outperform/ | title=Lessons from Revolut: How Startups Can Help Their Staff Outperform | website=Forbes }}{{cite web | url=https://fortune.com/europe/2024/07/03/billionaire-revolut-ceo-nik-storonsky-launches-vc-firm-powered-by-ai/ | title=Revolut billionaire Nik Storonsky embraces AI by launching 'truly systematic' $200 million VC firm }} As of November 2024, QuantumLight’s disclosed portfolio includes: ThanksBen, Builder.io, Deepscribe, Ghost, MarqVision, Mesh, Monta, RadAI, RobinAI.{{cite web | url=https://quantumlightcapital.com/#portfolio | title=QuantumLight }}
Awards and Recognitions
Storonsky made the 2022 Forbes Billionaires List with an estimated wealth of $7.1 billion and occupied the 336th position. Welp Magazine also named him in the following lists: '101 UK Founder & CEO’s To Follow in 2022' and '101 UK CEO’s To Follow in 2022'.{{Cite web |date=2021-12-31 |title=Top Influencers: 101 UK Founder & CEO's To Follow in 2022 - Welp Magazine |url=https://www.welpmagazine.com/top-influencers-101-uk-founder-ceos-to-follow-in-2022/ |access-date=2022-05-05 |website=Welp Magazine |language=en-US}}{{Cite web |date=2021-12-31 |title=Top Influencers: 101 UK CEO's To Follow in 2022 - Welp Magazine |url=https://welpmagazine.com/top-influencers-101-uk-ceos-to-follow-in-2022/ |access-date=2022-05-05 |website=Welp Magazine |language=en-US}} He also made to the list of Time100 Next 2024 published by the Time Magazine. {{Cite web |last=Chow |first=Andrew R. |date=2024-10-02 |title=2024 TIME100 Next: Nik Storonsky |url=https://time.com/7023467/nik-storonsky/ |access-date=2025-03-25 |website=TIME |language=en}} Storonsky also featured 8th in the Fintech Top 100 Leaders for 2025 by Fintech Magazine. {{Cite web |last=Collins |first=Georgia |date=2025-03-21 |title=Nikolay Storonsky, Revolut: Simplifying Financial Services |url=https://fintechmagazine.com/articles/nikolay-storonsky-revolut-simplifying-financial-services |access-date=2025-03-25 |website=fintechmagazine.com |language=en}}
References
{{Reflist}}
{{Authority control}}
{{DEFAULTSORT:Storonsky, Nikolay}}
Category:Moscow Institute of Physics and Technology alumni
Category:New Economic School alumni
Category:British businesspeople
Category:British financial company founders
Category:British technology company founders
Category:20th-century British businesspeople
Category:21st-century British businesspeople
Category:Former Russia citizens
Category:Russian emigrants to the United Kingdom
Category:Russian businesspeople in the United Kingdom