Revolut has unveiled its French expansion plans, committing to invest over €1 billion ($1.1 billion) in the market over the next three years.
The initiative will create over 200 new jobs, and establish Paris as the challenger’s headquarters for Western Europe.
In a statement on LinkedIn, Revolut said the headquarters would “allow us to better serve our growing markets in France, Ireland, Germany, Spain, Portugal, and Italy”.
These plans also include an application for a banking licence in France, adding to its current applications in New Zealand and the UAE. Revolut notably secured a UK banking licence with restrictions from the Prudential Regulation Authority (PRA) last year.
Serving over 55 million customers globally, Revolut’s proposed $1.1 billion investment in France stands as the largest commitment the country has received in a decade, according to the London-based firm.
Founded in 2015, Revolut became Europe’s most valuable technology company in 2024, following a $500 million secondary share sale valuing the digital bank at $45 billion. The fintech unicorn also reported achieving $1.4 billion in profit before tax for FY 2024, as revenues jumped by 72% to $4 billion.
Source: https://www.fintechfutures.com/
