Revolut has launched a business account designed for freelancers, gig economy workers and self-employed people to manage their incomes, payments and expenses.

Revolut Pro, which sits within the Revolut retail app, offers a dedicated IBAN and 1 per cent cashback debit card and enables multi-currency payment acceptance using QR codes, payment links and invoice templates. It has no monthly fees and no deposit or balance requirements.

The British fintech company, which has more than 20 million customers worldwide, said banks had been slow to develop services to meet the needs of “the modern flexible worker”, who might require more sophisticated services than those typically contained within consumer bank accounts but cannot afford or do not need the complexity of a full business account.

Revolut Pro will initially launch in Ireland, Britain, France, Poland, Spain, Portugal, Romania and Lithuania.