Neobank Revolut has taken a decisive step toward democratizing investment in private markets. Starting this Monday, the company's customers in Spain and other European countries can access venture capital funds, private credit, and infrastructure directly through the app, with a minimum investment of just one euro. The company has forged strategic alliances with four leading global asset managers: Apollo, Ares, Hamilton Lane, and Partners Group, which together manage over $2,8 trillion in assets.
Until now, private markets were reserved for high-net-worth individuals and institutional investors, with entry requirements that typically exceeded €100.000. With this initiative, Revolut aims to level the playing field between individual investors and institutional strategies, as stated by Rolandas Juteika, Head of Investments and Trading for Europe at the fintech company. The available funds are structured under the European ELTIF 2.0 regulation, which introduces periodic liquidity windows to facilitate redemptions, although the company cautions that these redemptions are not guaranteed.
Strategic alliances with top-tier management companies
Revolut has signed distribution agreements with Apollo, Ares, Hamilton Lane, and Partners Group , four firms with decades of combined experience in alternative asset management. The company explained that these asset managers were selected based on their operational strength, track record of performance, and ability to navigate market cycles. Clients will be able to choose from a selection of funds focused on private equity, private debt, and infrastructure, all overseen by Revolut's in-house team of experts.
The fintech company, which already has over 75 million users globally, will not charge any additional fees for trading through its platform beyond those established by each fund (management and performance fees). In return, it will receive commissions derived from the distribution of these products. This strategy is part of the company's goal to reach 100 million customers and $100.000 billion in revenue, strengthening its wealth management business beyond banking and payments.
Evergreen funds and liquidity under ELTIF 2.0 regulations
The funds offered are in an 'evergreen' format, meaning they are open-ended and do not have a fixed settlement date . This contrasts with traditional venture capital vehicles, which required investors to lock up their capital for several years. European regulation ELTIF 2.0 (Regulation (EU) 2023/606) introduces periodic liquidity windows that allow investors to request redemptions at specific times. However, Revolut has made it clear that "redemptions are not guaranteed" and may be subject to limits (gates) or suspensions depending on the terms and conditions of each fund.
The firm emphasizes that the underlying investments retain their illiquid nature, so these products are specifically designed for investors with a multi-year time horizon who do not require immediate access to their capital. Rolandas Juteika has described it as "patient capital ," which aligns with the true nature of private assets. In fact, the company recommends that these types of markets represent only a small portion of each investor's portfolio and not their primary investment vehicle.
Entry barriers broken down: from 100.000 euros to 1 euro
One of the most striking aspects of this initiative is the drastic reduction in the minimum investment . Traditionally, accessing venture capital or private debt funds required investments of at least €100.000, excluding most individual investors. Revolut has managed to reduce that figure to just €1, thanks to the structure of its ELTIF 2.0 funds, which allow for pooling small contributions from many clients. Trade Republic had already begun this same trend last September, when it partnered with Apollo and EQT to offer similar products.
In Spain, local regulations only allow investment in private markets if the individual has €100.000 in cash, with a maximum limit of €10.000. The European regulation ELTIF 2.0, launched in 2024, has been key to circumventing these limitations and opening the market to a much wider audience. Revolut thus joins a growing list of financial institutions that are committed to these types of products, such as Bankinter, Renta 4, and MyInvestor, but with the advantage of a virtually symbolic entry barrier.
Competition and trends in the sector
Revolut's entry into private markets increases competition in a segment that remains limited for Spanish retail investors. Until now, the main alternative was Trade Republic, which offers access to Apollo and EQT funds, also under ELTIF regulations and with a minimum investment of one euro. The key difference is that Revolut expands its range of partner asset managers and integrates the offering directly into its app, eliminating the need to open additional accounts.
Private markets aggregate investments that are not publicly traded, such as venture capital firms, direct loans from investment funds, and infrastructure projects. While they traditionally required large initial outlays, the emergence of vehicles adapted to European regulations has significantly reduced the minimum investment amount, while maintaining their focus on long-term investments. Revolut is thus strengthening its wealth management business and seeking to expand its revenue streams beyond banking and payments, in a context where financial education and portfolio sophistication are on the rise.
In short, Revolut's initiative represents a paradigm shift for individual investors in Spain and Europe. By eliminating traditional barriers to entry and offering access to funds managed by top-tier firms, the fintech company allows anyone to diversify their portfolio with assets that were previously the exclusive domain of the very wealthy. However, the company emphasizes that these products are not for everyone: they require patience, a multi-year investment horizon, and a willingness to accept the illiquidity of the underlying assets. As Rolandas Juteika summarized, it's about leveling the playing field, once and for all, between individual investors and institutional strategies.
