Revolut plans to invest €1 billion in France, apply for license
Revolut Ltd. , The largest digital bank in Europe, to invest more than a billion euros ($ 1.1 billion) in France and apply for a local banking license as an expansion throughout Europe.
In choosing the France Summit for Business hosted by president Emmanuel Macron in Paris on Monday, the London -based company said that it will establish its headquarters in Western Europe in the city, has pledged to provide investment for at least three years in this period.
It also stated that it is in the process of submitting an application to the supervisory body and the dissolution of the French banking authority, known as the AcPR. The Supervisory Authority has paid the company to obtain a license to enable the supervision better because a large percentage of its European retail customers is present in the country, as a person said to be aware of the issue, requesting not to identify the discussion of non -public information. A representative of AcPR refused to comment.
Droclut owns approximately 300 workers in France and 5 million customers, making it the largest market for the company in the European Union. He looks forward to 10 million users by the end of 2026, with the aim of double that by 2030, it already provides loans, encryption and trading in its French market.
Revolution was established in 2015 and its value was recently about $ 45 billion, and it is one of the largest and fastest growing companies in the world, with 55 million customers worldwide. It was mentioned 3.1 billion pounds ($ 4.1 billion) in total revenues for the past year and about 10,000 employees at the end of 2024. Most of this growth came despite the lack of banking licenses, which CEO Nick Storonski said was a mistake.
After winning a license for last year in the United Kingdom, where it includes 11 million customers, the company is now following the power of new permits across geographical regions, with 10 other requests on all parts of the world. She recently obtained a license for payment tools in advance (PPI) from the central bank in India. Revolution will launch its Mexican bank in the coming months.
In Europe, a French license will come in addition to the current banking permit at the continent level from the central bank in Lithuania. The company confirmed that Vilnius will remain a major base for European expansion in Revolution, where growth plans and product pipelines are still based in the Baltic Center.
The company’s headquarters will remain in London. However, executive officials, including Storonsky, have repeatedly warned how the city’s regulations have unlawful and they prefer New York for a list.
Revolution has been captured more users throughout southern Europe, northern European and outside the continent. She was looking forward to Asia, Pacific and Middle East as well.
This story was originally shown on Fortune.com
2025-05-19 09:20:00
