Revolut Acquires Nobly ePOS as It Moves into Hospitality Sector

Revolut has acquired the top-rated electronic point of sale (ePOS) software company Nobly POS. According to the announcement on their website, the acquisition will facilitate their expansion into the restaurant and hospitality industry.

Revolut, whose financial services include, but are not limited to, money transfers in close to 30 currencies, pre-paid debit cards with withdraws in more than 100 countries, a crypto-exchange where users can trade their Bitcoin, Ether, Litecoin and others. Merging with Nobly’s payment software is another block in Revolut’s bid to build ‘the world’s first global financial super app’. Targeted at the hospitality industry, it will enable businesses to run their business right from the app. Using Nobly’s POS system for the hospitality industry, they will be able to make orders and manage their inventory. Other services they will have access to include online ordering for clients, kitchen displays and personalised loyalty and reward schemes for loyal customers.

Revolut CEO Nik Storonsky commented on the acquisition:

“The Nobly team has built a great product and expertise which will further advance our mission to offer a one-stop shop solution to enable merchants of every kind to manage their finances and run their businesses from a single platform […] Nobly’s ePOS product will enhance our existing Revolut Business offering to make life easy for hospitality businesses.  We look forward to working with the team to build more features to support our strong growth.”

Revolut has 16 million users globally with half a million business accounts. It saw a significant increase in the number of business accounts last year after adding more features for business use. This merging with Nobly brings a completely new customer base to Revolut.

George Urdea, co-founder and CEO at Nobly POS said:

“We built Nobly to enable small business owners and their teams to better serve their customers. Joining Revolut opens the exciting possibility to take the merchant-consumer experience to the next level, by bridging the rich point of sale data with Revolut’s financial super app.”

Since 2013, London-based Nobly has been providing POS software services to businesses around the world. They have customers in the UK, Ireland, the US, Canada and Australia and offices in Texas, Melbourne and Montevideo. Their service is used by all kinds of retailers, including eateries, bars and coffee places. They provide inventory management, smart insights, staff management, CRM, promotions, loyalty, menu management, mobile ordering, and delivery all in one service. The Nobly payment system can also integrate with payment services like SumUp and Paymentsense and accounting software like QuickBooks and Xero.

Financial details of the Revolut-Nobly deal remain undisclosed.