RUUT
- Company typePrivate
- Founded2019
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
RUUT firmographics
Firmographics- Name
- RUUT
- Legal name
- Is United Payment Systems Limited
- Website
- https://ruutapp.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
RUUT industry classification
Industry- Product category
- Digital Banking
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
- akta.pro secondary industries
- Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.) (CRAFALAG)
Keywords
Where RUUT is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
RUUT business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Business Account Subscriptions: Business customers pay for the Plus plan at £9.90/month. The Essential plan is free. Revenue derived from monthly subscription fees.
- Card Issuance Fees: Physical debit cards are issued for a one-time fee of £4.90 per card for both business and personal plans.
- Money Transfer Fees: UK domestic transfers via Faster Payments: £0.20 per transaction on Essential plan after free allowance; free on Plus plan within limits. International transfers to Türkiye: first transfer free, then £3.90 per transfer.
- ATM Withdrawal Fees: UK ATM withdrawals: 2% fee per withdrawal on Essential; first 3 free per month on Plus, then 2% per additional. International ATM withdrawals: 2-3% fee.
- Card Top-up Fees: Debit card top-ups incur 1% fee; credit card top-ups incur 2% fee. Combined top-up fee is 3%.
- Payment Acceptance Fees: Fees for payment links and card transactions through POS; rates checked via POS menu.
- Incoming Payment Fees: Personal accounts receive inbound GBP payments free. Business Essential: up to 10 free, then £0.20 per transaction. Business Plus: all incoming GBP payments free.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free personal account with GB IBAN, free inbound payments, free UK transfers, free RUUT-to-RUUT transfers, and 5% cashback on eligible spending. |
| Freemium | Monthly | Free business account with basic features: 1 free virtual card, up to 10 free incoming GBP payments, £0.20 per additional incoming payment, £0.20 per UK transfer. |
| Subscription | Monthly | Paid business account at £9.90/month with enhanced features: 3 free business accounts, unlimited free incoming GBP payments, up to 10 free UK transfers, 3 free ATM withdrawals per month. |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
RUUT product offering
Product offeringCore offering
RUUT is a UK digital financial platform that provides small businesses and personal customers with multi-currency business and personal current accounts, Visa debit cards, in-app UK Faster Payments and cross-border transfers (notably to Türkiye from 27 European countries), online card payment acceptance via a virtual POS, and UK company formation services integrated with Companies House. The platform operates on a Banking-as-a-Service stack, partnering with Algbra FS UK Limited (e-money) and Enfuce UK Ltd (card issuing) and runs on the Visa network.
Differentiator
Problem solved
Functional benefit
Brands
- Habitat: Content platform providing guides and information on life, work, education, and culture for people moving to or living in Europe
Products and services
- RUUT Business Account
- RUUT Personal Account
- RUUT Visa Debit Card
- RUUT Money Transfer
- RUUT Europe-to-Türkiye Remittance
- RUUT Online Payment (Virtual POS)
- RUUT Company Formation
Quantifiable outcome
- Identity verification completed in minutes with in-app liveness check and government ID verification
- +2 more outcomes
Companies that use RUUT
Customer profileSegments4 records
Ideal customer profiles2 records
RUUT technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
RUUT partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- Algbra FS UK LimitedcoreAlgbra FS UK Limited is the e-money issuer for RUUT accounts, authorised and regulated by the FCA under the Electronic Money Regulations 2011 (Firm Reference Number 952360). RUUT acts as a distributor of Algbra FS UK Limited. Customer funds are held in segregated and safeguarded accounts in accordance with Electronic Money Regulations 2011.
- Enfuce UK LtdcoreEnfuce UK Ltd issues the RUUT Visa debit card pursuant to licence by Visa Europe Limited. Enfuce UK Ltd is authorised and regulated by the FCA with Firm Reference Number 993783.
- Maxi Digital GmbHcoreMaxi Digital GmbH is the product company behind www.ruutapp.com. It is registered in Frankfurt am Main, Germany (HRB 117112) and is a subsidiary of Is United Payment Systems Limited. Maxi Digital GmbH manages the development and operation of the RUUT platform.
- Visa Europe LimitedcoreVisa Europe Limited licences the Visa payment network to Enfuce UK Ltd for issuance of RUUT Visa debit cards. This partnership enables worldwide card acceptance at any merchant displaying the Visa logo and ATM access.
- UK Faster Payments NetworkcoreRUUT utilises the UK Faster Payments network for domestic money transfers, enabling near-instant fund transfers within the UK 24/7.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
RUUT competitors and assessment
Company assessmentDirect peers
- Monzo Business: UK challenger bank with a fast-growing business banking product and personal accounts/cards; competes with RUUT for UK SME and personal banking customers.
- Wise: Multi-currency account and cross-border money transfer specialist with strong UK/Europe-to-Türkiye corridor presence; competes head-on with RUUT's remittance product and IBAN-based accounts.
- Pleo: European business spend management platform offering company cards and expense tools — directly comparable on the business card / spend management use case RUUT targets.
- Revolut: Global neobank offering multi-currency accounts, Visa cards, business accounts, and remittance — directly competing with RUUT in UK/EU business banking and the Europe→Türkiye corridor.
- Qonto: European SMB business banking platform covering UK/France/Germany/Italy/Spain with accounts, cards, and payment acceptance — comparable to RUUT's all-in-one SME proposition.
- Starling Bank: UK FCA-authorised challenger bank offering business and personal current accounts with payment acceptance — a scaled incumbent competitor in RUUT's core UK market.
- Tide: UK SME-focused business current account and admin platform — closest direct competitor to RUUT's primary UK small business segment, including cards and payment acceptance.
- Anna Money: UK-focused business account with payments, cards, and expense management for SMEs and sole traders; overlaps RUUT's UK small business customer base.
Regional players
- Papara: Leading Turkish digital wallet and account provider serving the same end customer base RUUT targets for Europe→Türkiye remittances and Turkish entrepreneurs.
- Enpara (QNB): Digital-only bank from QNB in Türkiye offering accounts, cards, and money transfer — competes for the same Turkish-diaspora remittance and Turkish-resident customer segments RUUT serves from Europe.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
RUUT social profiles
Digital presenceRUUT compliance and trust
Trust signalCompliance4 records
RUUT financial estimates
Financial estimateRevenue estimate
Valuation estimate
RUUT leadership team
Management profileNumber of profiles
Profiles1 record
RUUT subsidiaries and ownership
Company hierarchySubsidiaries1 record
RUUT funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RUUT M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RUUT
What does RUUT do?
RUUT is a UK digital financial platform that provides small businesses and personal customers with multi-currency business and personal current accounts, Visa debit cards, in-app UK Faster Payments and cross-border transfers (notably to Türkiye from 27 European countries), online card payment acceptance via a virtual POS, and UK company formation services integrated with Companies House. The platform operates on a Banking-as-a-Service stack, partnering with Algbra FS UK Limited (e-money) and Enfuce UK Ltd (card issuing) and runs on the Visa network.
Is RUUT a public or private company?
RUUT is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was RUUT founded?
RUUT was founded in 2019. It employs 11 to 50 people.
Where is RUUT based?
RUUT is headquartered in London, United Kingdom, in the Europe region.
How does RUUT make money?
Seven revenue lines are on record. Business Account Subscriptions are the primary driver. The others are card Issuance Fees, money Transfer Fees, ATM Withdrawal Fees, card Top-up Fees, payment Acceptance Fees and incoming Payment Fees.
Who are RUUT's main competitors?
Direct peers on record are Monzo Business, Wise, Pleo, Revolut, Qonto, Starling Bank, Tide and Anna Money. Regional players are Papara and Enpara (QNB).
Does RUUT have an API?
No public API is recorded for RUUT.
What industry is RUUT in?
RUUT's product category is Digital Banking. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of THALAHAB, Card Issuing & Virtual Cards (lodge cards, single-use, tokenization). Its NAICS code is 52232 and its SIC code is 6199.