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Revolut Invests $1.1 Billion in France to Expand European Banking Presence
The fintech company aims to double its French user base and secure a local banking license.
Revolut is making a major move into European mainstream banking, starting with a €1.1 billion investment in France. The UK-based financial technology company announced it will commit the funds over the next three years as part of a broader plan to establish itself as Europe’s largest banking group.
This investment will be used to set up a Western European headquarters in Paris and secure a French banking license. The license would allow Revolut to offer a wider range of local services and deepen its role in one of Europe’s most influential financial markets.
The company stated it plans to double its French customer base to 10 million by 2026 and reach 20 million by 2030. To support this growth, Revolut intends to hire more than 200 employees in France across several departments, including compliance, engineering, customer support, and product development.
Local License Key to Expanding Financial Offerings
Revolut currently operates in Europe under a license granted in 2018 by the European Central Bank through its Lithuanian entity. The new French license would allow the company to offer more localized banking services under direct supervision of French regulators.
Paris will serve as the company’s base for operations in Western Europe, including countries such as Germany, Ireland, Italy, Portugal, and Spain. The existing center in Vilnius, Lithuania, will continue to manage business in the broader European Economic Area.
According to Antoine Le Nel, Revolut’s Chief Growth and Marketing Officer, the company is focused on building a dominant position in the European market. He stated that becoming Europe’s largest banking group is the primary goal.
France as the First Step in Broader Growth Plan
Revolut’s move into France is part of a global strategy. After establishing a stronger base in Europe, the company is looking to expand into other high-growth regions. It has already announced intentions to enter the Mexican and Indian markets and is working on obtaining 10 new banking licenses worldwide.
Founded in 2015, Revolut started as a money transfer app and gradually expanded its services to include savings accounts, lending products, and trading features. It became especially popular among younger users and international travelers, due to its low fees and user-friendly platform.
The company has grown rapidly and was valued at $45 billion during a secondary share sale in November 2024. That valuation put it on par with several long-established banks in Europe, including Societe Generale and Nordea.
A Move Toward an IPO?
Though Revolut has not confirmed a timeline for a public listing, the company’s recent moves suggest it is preparing for that possibility. Establishing a licensed and localized presence in major markets like France could help strengthen investor confidence ahead of any initial public offering.
Insiders have suggested that the groundwork for a listing is already underway. The French expansion could help Revolut show regulators and future shareholders that it can operate at scale under the same rules as traditional banks.
Hiring and Infrastructure Development in France
Revolut’s new Paris office will not only house leadership for its Western European operations but will also serve as a hiring hub. The company has announced it will bring in over 200 staff members in France. These new hires will work on customer support, regulatory compliance, product development, and technical operations.
This move also signals Revolut’s commitment to building a deeper presence in the region, rather than managing French accounts from offices in other countries. Local staff and localized products may give the company a competitive edge over neobanks operating across borders without on-the-ground teams.
Competition and Regulation
The decision to invest heavily in France comes at a time when European regulators are placing stricter oversight on financial apps and digital banks. Gaining a national license would subject Revolut to closer regulatory review but also open up access to more services, including deposit insurance and direct lending.
Revolut is entering a market where traditional banks still hold a majority of customers. However, the company is betting that digital-first services, combined with strong branding and cost efficiency, can win over more users in the long term.
By applying for national licenses and complying with local regulations, Revolut may also avoid regulatory tensions that have affected other fintech firms expanding too quickly without localized frameworks.
Aiming for Sustainable Growth
The company’s vision is not just about increasing user numbers, but about becoming a core banking option for millions of people in Europe and beyond. The planned investments in licensing, staffing, and infrastructure are meant to support long-term stability and scalability.
As competition among digital banks increases, Revolut’s decision to focus on building a strong base in France before expanding further could prove to be a deliberate and strategic move. It positions the company not just as a tech platform, but as a financial institution with long-term plans.
Looking Ahead
With its large investment in France, Revolut is no longer just competing with other fintech players. It’s aiming to join the ranks of Europe’s largest banks. The success of its efforts will depend on execution—both in securing regulatory approvals and in delivering reliable services to millions of users.
The next few years will determine whether Revolut can translate its user base and market buzz into durable banking infrastructure. If it succeeds, it may not only redefine its own position but also influence how digital finance grows in Europe and beyond.
