Revolut has announced that it has signed a strategic deal to acquire Swifty, an AI-enabled travel agent startup originally incubated at Lufthansa Innovation Hub (LIH).
Through this move, Swifty’s AI technology, as well as its founding team, are set to become part of Revolut, where it will centre its efforts on improving the company’s loyalty and lifestyle products for its global customer base, which, according to its data, has reached 65 million users.
Bringing AI into focus
Acquiring Swifty supports Revolut’s strategic development of its AI financial assistant, which further improves the company’s lifestyle offering. Swifty designed its AI agent to autonomously manage the entire travel booking process, starting with choosing flights and hotels and moving on to payments and invoicing. Done through an optimal conversational interface, the technology is set to facilitate an improved customer experience that merges smart financial guidance with the automated execution of complex travel and lifestyle tasks.
Integrating Swifty’s capabilities and expertise supports Revolut in continuing to advance its commitment to simplifying all money processes while also growing its reach into the lifestyle ecosystem. The company focuses on providing customers with more control, value, and choice when it comes to their finances. Talking about the strategic deal, Revolut’s representatives stated that the acquisition strengthens their company’s position at the meeting point between finance, AI, and lifestyle. The move enables Revolut to acquire both talent and expertise in AI-powered travel solutions, which will, in turn, help it offer more personalised experiences to its users worldwide.
When it comes to Swifty, working with Revolut will allow the company to expand its expertise beyond the travel sector, with the startup highlighting that this initiative comes as an opportunity to scale its mission globally and improve the lifestyle of Revolut’s customers. By teaming up, the two companies plan to build an AI concierge that, in addition to augmenting travel, anticipates everyday needs across all aspects of life. Moreover, the deal supports the operations of Lufthansa Innovation Hub, which develops new digital business models for the Lufthansa Group and the travel industry as a whole.
