Revolut Wins Colombia Bank License, Targeting 2027 Launch
The fintech said the licence is its final regulatory step and that nearly 200,000 Colombians are waiting to join.
- On Tuesday, British fintech Revolut announced it obtained a banking license in Colombia from the Superintendencia Financiera de Colombia , marking the final regulatory step before launching operations.
- This approval represents Revolut's sixth full banking license globally, following recent authorizations in France, Australia, the UK, Lithuania, and Mexico, alongside payments licenses in the UAE and Peru.
- To support the expansion, Revolut plans to invest an additional $62 million in Colombian digital banking infrastructure, doubling its initial commitment, as nearly 200,000 Colombians have already joined the waiting list.
- Diego Caicedo, chief executive of Revolut Colombia, said the firm will "connect Colombia to the global economy" by simplifying remittances and cross-border money management for everyday banking.
- Founder Nik Storonsky reported $6bn in revenue last year and $2.3bn in pre-tax profit, while the company targets a $500bn valuation and aims to reach 100 million customers by mid-2027.
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Lietuvos Radijas ir Televizija
vz.ltRevolut, a UK financial services group with a banking license in Lithuania, announced that it is further strengthening its operations in global markets. It has received a banking license in Colombia and has applied for a license in Switzerland.
Revolut secures its banking licence in Colombia
Revolut has received its licence to operate from Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC). The company said the licence is the last regulatory step it needs before it launches in the country. Revolut announced the approval on 15 September. The licence allows it to operate as a regulated bank in Colombia. Around […] This story continues at The Next Web
The final authorisation allows Revolut to operate as a regulated bank in Colombia and raises to six the number of full bank licenses held by the company worldwide, joining those already obtained in the United Kingdom, France, Australia, Lithuania and Mexico.
British fintech giant Revolut has obtained a banking license in Colombia, with plans to launch its services in the South American country in 2027.
Revolution obtains the banking license to operate in Colombia, the sixth after the United Kingdom, France or Mexico
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