Chad West knows how to grow a fintech firm: he led marketing at Revolut for nearly five years, as its user base hit 10 million. Now, he advises other early-stage CMOs and serves as the marketing VP at crypto platform Argent. Today, he’s sitting down with Max to talk about fintech growth.

How Revolut Acquired its First 10 Million Customers with Chad West

When we talk about fintech growth stories, few are more impressive than Revolut’s

Chad West has not just been a witness to its rapid rise – he was at its forefront. As the former marketing lead at Revolut, he helped grow the user base to 10 million and helped elevate the company’s valuation to the billions. Now, as the VP of Marketing at Argent and an advisor to emerging CMOs, Chad continues to shape the fintech playing field.

In our chat for The Generation, the podcast where I interview the world’s top fintech leaders on how they’re redefining the industry, we unpack the strategies behind one of the most striking growth trajectories in fintech history. This is a must-listen episode for any marketer in financial services who wants to make an impact. Here are five key takeaways from our conversation.

Ownership builds a community of evangelists

Users are transformed into powerful advocates by creating a deep sense of ownership. For Revolut, this strategy wasn’t merely about user acquisition: it was about making each customer feel integral to the company's mission and growth. Enlisting a dedicated core of active promoters was crucial to the explosive rise to the first million.

“Community is about ownership. How do we make sure that our customers are so evangelist towards the company, and they are so committed to the company, that they will effectively do our marketing for us. They were thinking, ‘okay I have ownership in this company. I have a real say in the direction of the company and what they build’…They felt as if they were really part of something … So by doing that, as well as some of the growth hacking on PR and other channels, we got to that first million users.”

 https://youtu.be/I9-RuBQq7fM?si=A0cOknbH7XZWNbFC&t=2057

Set a community-to-referral roadmap to unlock next-level signups

Referral program success is never just about smart marketing. Strategic brilliance is always paired with an exceptional product. With a relentless focus on meeting user needs, Revolut had product excellence locked down. And, with a community of die-hard fans who felt ownership, it could engineer a community-to-referral pipeline that is still delivering.  

“The real core of Revolut’s growth, the real success behind Revolut’s growth was that Community-to-Referral roadmap, and it was very much designed to be that way…A lot of it was based on emotional Community connectivity, but the other side of it was quite smart and based on the user's actual engagements - where they were, what they were doing and how we could prompt them…”

 https://youtu.be/I9-RuBQq7fM?si=pCHRLelaZEQiPYtX&t=2375

Don’t underestimate tone and transparency for building trust

In the dizzying early days of fintech, rewriting the script on customer communication was a bold move. In financial services, business as usual was increasingly out of step with the public mood. Opting for a style that was as open and honest as it was refreshing and relatable set Revolut apart – and laid the groundwork for many a start-up that has since followed in its footsteps. Being upfront with your customers is now the surest way to win and keep their trust. 

 “The industry was just so formal, so corporate. Everything was very sleazy in terms of hiding the fees and what goes on behind the scenes. There was absolutely zero focus on the user - it was very much focused on profits … We changed all of that. Everything, from our tone of voice, the way we spoke to customers, emails, it was open, it was honest, it was transparent, it was fun and our users love that - because they never experienced a financial product speaking to them like a normal person or having a laugh with them.”

https://youtu.be/I9-RuBQq7fM?si=vuDw8M1BFswcYMzl&t=1275

Data is the death of creativity in marketing

There’s no underplaying the importance of data in the evolution of marketing – it guides decision making, measures performance and justifies the discipline’s seat at the top table. But an overreliance on data can stifle creative instincts, pushing marketers down a path of conformity. In the quest for measurable success, the marketing world risks forgetting why it started in the first place. 

"It's created droids in marketing. These are people who are so dependent on data and copying and pasting the playbooks of the industry that they never innovate, they never think outside of the box, and it's why we're in this depressing state now where, when you look at the technology industry, every brand is soulless. It looks the same, it speaks the same, it does the same marketing strategies, and it's just depressing."

 https://youtu.be/I9-RuBQq7fM?si=FkCkAUHwwsphNdGP&t=955

Put the right processes in place as you grow

When a fintech takes off like a rocket, pausing to fortify the fundamentals doesn’t always rank as a top priority. But putting the right processes in place early on isn’t just a prudent move – it’s vital for sustainable growth. This hard-learned lesson applies to both the company and the CMO.

 “Make sure you don't get caught up in the now and you are always thinking strategically about the future. Make sure you're building good processes, because the risk is you grow super-fast and do amazing work but then it can so quickly come crumbling down when you don't have the foundations set up around you.”

 https://youtu.be/I9-RuBQq7fM?si=627xPdFSl-LsnMHG&t=2817

Blueprinting fintech growth

With over 40 million users spread across the globe, Revolut has played a major role in setting the rules in fintech’s growth playbook. Creating a community of owners and die-hard brand lovers, tapping it with innovative growth mechanics, and staying committed to transparency combined to deliver one of the most explosive rises the ecosystem has seen.

Get more of the inside scoop on Revolut’s journey to the top in the full episode. Or get in touch with us to explore how we can help your business unleash its next phase of growth.