Revolut, the London-based FinTech large, has unveiled plans to take a position over €1 billion in France over the following three years, marking a big milestone in its growth technique throughout the European Financial Space (EEA).
Introduced throughout in the present day’s Select France Summit, the corporate additionally revealed that Paris will now function its new Western European headquarters—alongside its current base in Lithuania—solidifying a dual-HQ mannequin to raised serve its 40 million EEA prospects.
Antoine Le Nel, Chief Development and Advertising Officer at Revolut, says, “Our ambition is evident: we wish to grow to be the primary banking group in Europe, revolutionising banking and providing cutting-edge monetary companies to prospects throughout all 30 EEA nations. To convey this imaginative and prescient to life, we’re introducing an progressive dual-HQ working mannequin within the EU. This strategic transfer will allow us to supply an prolonged vary of services, all inside one of the vital safe and protecting banking constructions established within the area.”
The funding underscores Revolut’s ambition to grow to be the most important banking group in Europe. Already one of many continent’s most precious non-public tech firm, Revolut at the moment boasts greater than 55 million prospects globally and reported revenues exceeding €3.5 billion in 2024.
The corporate is planning to use for a banking licence in France by way of the Autorité de Contrôle Prudentiel et de Résolution (ACPR), aiming to deepen its native footprint and regulatory engagement.
France is now Revolut’s fastest-growing market within the EU, dwelling to over 5 million prospects, with development accelerating by 1.6 million new customers in 2024 alone. The brand new Paris HQ will oversee operations not solely in France, but in addition in Spain, Italy, Portugal, Eire and Germany. To assist this growth, Revolut is about to create greater than 200 jobs regionally, including to its present 300-strong workforce in France.
Since 2021, Revolut has been establishing native branches throughout Europe to bolster regional operations. France was the primary, adopted by Spain, Eire, Germany, Italy, Romania, and the Netherlands, with extra branches anticipated to launch quickly. The twin-HQ construction is designed to allow the FinTech firm to scale sooner, provide extra regionally aligned companies, and strengthen its relationships with nationwide regulators.
Pierre Décoté, Group Chief Threat & Compliance Officer, explains, “France is Revolut’s largest market with 5 million prospects and fastest-growing EU market (+1.6M prospects in 2024), providing vital alternatives for growth and innovation. Paris is a pure match as a gateway to speed up Revolut’s development trajectory in Europe and past, because of its dynamic banking ecosystem, sturdy regulatory framework, and rising prominence as a monetary hub.”
At present, Revolut holds a European banking licence granted by Lithuania, which allows it to supply companies like private loans in France, Spain and Germany. Nevertheless, Revolut believes that securing a second EU licence from France will permit it to raised tailor its choices to native markets, enhancing each regulatory cooperation and buyer expertise.
Trying to the longer term, Revolut plans to launch a collection of latest merchandise in 2025, together with mortgages, overdrafts and cell phone plans, increasing its companies deeper into the retail banking house.
The announcement was warmly acquired by the French authorities. Éric Lombard, French Minister of the Economic system, Finance, and Industrial and Digital Sovereignty, explains, “Revolut’s choice to determine its Western European headquarters in Paris is good news, and a transparent reflection of worldwide buyers’ confidence within the attractiveness of France. This choice — one of many largest international investments within the monetary sector in France prior to now ten years — additional strengthens Paris’ place because the main monetary hub in Europe.”
As Revolut doubles down on its European ambitions, this transfer not solely reinforces France’s function as a pivotal participant in FinTech innovation, but in addition alerts a brand new section for the challenger financial institution’s pan-European technique.
