The Rise of Super-Apps: How Fintechs Like Revolut and Wolt are Redefining Convenience
Not long ago, the idea of a “bank” was straightforward: a place to deposit your money, apply for a loan, or maybe get some financial advice. Fast forward to today, and companies like Revolut are reshaping this definition entirely. Banking is just one part of a much bigger picture—a digital ecosystem, designed to meet almost every need in your daily life. And Revolut isn’t alone. Companies like Wolt, originally known for food delivery, are also diving headfirst into the super-app arena, aiming to create platforms where users can essentially live their lives within a single app.
It’s an intriguing direction, one that has me wondering: Are we, as consumers, truly ready to embrace an all-in-one digital world? And what does it mean for the future of both companies and consumers?
Revolut’s Leap into Lifestyle
Revolut’s journey is a prime example of this transformation. Once focused on simplifying international payments and currency exchange, it’s now on a mission to become a “super-app.” Beyond banking, Revolut recently added features that allow users to book unique experiences—think hot air balloon rides or trips to famous landmarks—directly through the app. This isn’t just an expansion of services; it’s an invitation to rethink what we want from a “bank” in the first place. Revolut is saying, “Why just handle your finances with us when we can also help you spend your money in interesting ways?”
It’s a bold move, but it raises questions. Sure, it’s convenient to have your lifestyle and financial services integrated, but does this multi-purpose approach dilute what originally made these companies attractive? As they evolve, these apps run the risk of losing the simplicity and focus that drew users in the first place.
Wolt’s Expansion Beyond Food
Then there’s Wolt, a company that started out helping people get their dinner on time. Today, Wolt isn’t just delivering food; it’s providing groceries, running ad platforms for merchants, and even offering financial services to small businesses. Miki Kuusi, Wolt’s CEO, has hinted that they may eventually pursue a full banking license, moving even closer to becoming a one-stop-shop for users.
Kuusi has a clear vision: he sees Wolt not just as a food delivery app, but as a company with the potential to become as integral to daily life as Amazon or even the banks we rely on. Wolt’s journey from “just delivery” to something much bigger points to a future where companies that start in one niche may not stay there for long. But at what point does Wolt become a jack of all trades, and potentially a master of none?
The Consumer Dilemma: Convenience or Overload?
For consumers, this super-app trend presents an interesting choice. Imagine having one app that lets you handle your finances, order dinner, book a holiday experience, and maybe even apply for a loan. On the surface, it’s a dream of convenience — no more juggling dozens of apps or worrying about different passwords. But it also centralizes an immense amount of data and power within a single company. What happens when one app knows everything about your spending, your food preferences, your location, and maybe even your health?
The Southeast Asian market shows us what a fully realized super-app could look like. Apps like Grab and Meituan are already woven into daily life, offering ride-hailing, payments, food delivery, and more. But in Europe and the US, we’re only just scratching the surface of this model. Western consumers are more used to segmented apps — one for banking, one for food delivery, another for social media. The shift towards super-apps could mean a fundamental change in how we interact with technology, for better or worse.
Is the Super-App Trend the Future or a Passing Phase?
The big question here is whether these companies can pull it off without losing what made them unique. In theory, becoming a super-app sounds like a natural progression, an inevitable path toward increased engagement and revenue. But in reality, not every company will succeed. The complexity of managing diverse services, maintaining quality, and navigating regulatory landscapes could lead to more headaches than profits. And let’s face it, not every consumer wants to be tied to a single ecosystem for all their needs.
On the other hand, the concept of a super-app offers startups and established companies a chance to rethink their purpose. Maybe we’re moving toward a future where brands aren’t defined by a single product or service but by the ecosystem they create. Revolut isn’t just a fintech company anymore, just as Wolt isn’t simply a delivery app. They’re each becoming platforms that could, one day, serve nearly every part of your life.
What This Means for New Business Opportunities
For those looking to enter the business world, the super-app trend opens a wealth of opportunities. Companies that may have started with a singular focus now have the flexibility to branch out. But this also means the competition is fierce. New startups will have to either specialize deeply in a niche that super-apps can’t effectively cover, or they’ll have to find ways to integrate with these platforms rather than compete against them.
It’s also a lesson in adaptability. In a world where apps like Revolut and Wolt are constantly reinventing themselves, businesses have to be ready to pivot, expand, and reimagine what they can offer. The traditional model of doing “one thing and doing it well” is being challenged by a new reality where consumers are open to the idea of doing “everything in one place.”
The Road Ahead: Growth, Risks, and the Role of Consumer Trust
As Revolut and Wolt continue their journey toward becoming super-apps, they’ll face both opportunities and risks. For these companies, the path to success isn’t just about adding more features — it’s about building trust. Consumers will need to feel confident that these apps can handle both their financial and lifestyle needs without compromising on security or service quality.
At the end of the day, it’s a balancing act. Growth and convenience are appealing, but they come with the responsibility of managing complex services with integrity. Whether these companies succeed in becoming indispensable to everyday life or end up as cautionary tales of ambition gone too far, only time will tell.
So, are super-apps the future, or just a passing trend? If Revolut, Wolt, and others have their way, it seems they’re betting on a future where one app rules them all. The question is: are we ready for it and do we want it?
