Revolut, the London-based neobank with crypto services, plans to invest more than €1 billion ($1.1 billion) in France and apply for a French banking license. This was announced at the Choose France summit hosted by President Emmanuel Macron in Paris. The firm intends to establish its EU headquarters in Paris and hire at least 200 employees within three years.
From a retail perspective, Revolut aims to expand its relationship with French customers by expanding product offerings and enhancing user experience. The neobank sees strong demand for its crypto and trading services in France, which has become its largest EU market.
Revolut representatives emphasized the importance of local banking authorization to build trust and meet regulatory expectations, helping to support sustainable growth.
Revolut Targets French Users, Seeks License
Currently, Revolut employs around 300 people in France and serves 5 million customers, making France its largest EU market. The company aims to grow its user base to 10 million by the end of next year and 20 million by 2030, as Cointelegraph reported.
Move over Emily — Revolut is coming to Paris in a big way. • New Western Europe HQ in Paris • €1 billion investment and 200+ jobs in France • Application for a French banking licence on the horizon pic.twitter.com/mxkUdnqqip
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Revolut serves 55 million globally
Revolut’s growth includes a $45 billion valuation and over 55 million global customers. Its 2024 revenue reached £3.1 billion ($4 billion), with over 10,000 employees worldwide.
Revolut recently obtained a UK banking license and is pursuing similar licenses across multiple countries, including a Prepaid Payment Instruments license in India. Its EU customers are served under a Lithuanian banking license granted in 2018.