Revolut Secures Full French Banking Licence
Revolut said the licence will help it serve more than 30 million Western European customers and speed product localisation across the region.
- On Monday, Revolut received a full French banking license, its second hub inside the European Union, following joint assessment by the ACPR and the European Central Bank.
- With operations across 40 markets, the license provides foundation for Nik Storonsky, founder and CEO of Revolut, to build next-generation banking for more than 30 million customers across Western Europe.
- RBSA will progressively serve France before expanding to Germany, Ireland, Italy, Portugal, and Spain, while Revolut Bank UAB remains the operational cornerstone for the rest of the EEA.
- The French approval is the latest regulatory win following a March UK license and July Australian launch. "This achievement reflects months of close collaboration," said Cossa-Dumurgier, CEO of Western Europe at Revolut.
- Following five consecutive years of profitability, Revolut is gearing up for a public listing around 2028 at a valuation between $150bn and $200bn, supported by more than €1bn in regional investment over the past year.
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23 Articles
UK's Revolut wins French banking licence in fresh push across Europe
Fintech firm Revolut has obtained a French banking license. This move signifies a major step in its European expansion plans. The company intends to establish Paris as its Western Europe headquarters. Revolut will shift customers away from its Lithuanian entity. It plans to hire over six hundred people across Western Europe.
The company has grown dramatically in recent years and already had a licence in the European Union, Lithuania. It is due to open its headquarters for Western Europe next year in Paris.
Revolut reached a new stage in France. The British fintech has just obtained full banking approval, as it accelerates its investments and prepares the opening of its European headquarters in Paris in 2027.
Revolut wins full French banking licence as EU push continues
The fintech's French entity becomes its second full EU banking hub, with Germany, Ireland, Italy, Portugal and Spain to follow, it says. Read more: Revolut wins full French banking licence as EU push continues
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