- Revolut to invest $1.1 billion in France and apply for a local banking license.
- The company announces new EU headquarters in Paris, alongside its existing Lithuanian office.
- Revolut to create 200 new jobs in France over the next three years.
Revolut, a major European neobank known for supporting cryptocurrencies, is making a big move in France. The company is planning to invest more than $1.1 billion (meaning €1 billion). Additionally, it will go through the process of getting a local banking license so it can expand.
Revolut to Open EU Headquarters in Paris
The announcement regarding this was made on May 19 at the Choose France business summit. This was organized with President Macron presiding over it in Paris. In the announcement, Revolut mentioned its goal to turn France into a center for its activities. The move also stated that it plans to open its European Union headquarters in Paris. The new office will supplement the one Alphabet already runs in Lithuania.
As a consequence, Revolut has begun using two locations as its headquarters. There will be a team stationed in Lithuania, along with one in Paris. The company stated that the new model will allow them to serve a larger audience in the Europe Economic Area of over 40 million people.
Moreover, Revolut intends to add new jobs in France. They declared that they are going to create 200 new jobs in the following three years. At the moment, roughly 300 employees are working for Sotheby’s in the nation.
Antoine Le Nel, Revolut’s Chief Growth and Marketing Officer, believes this move reflects the company’s desire for more growth. They plan to be the first European banking group, ensuring that all customers in the 30 EEA countries receive advanced financial services. He added that with the dual-headquarters model, Revolut would expand its services in banking and provide them securely.
Revolut Pushes Digital Banking Expansion in Europe
Notably, Revolut is among the most highly valued private technology companies in Europe. The company reaches more than 55 million customers worldwide and reported that its revenue amounted to over €3.5 billion in 2024. In the past decade, Revolut has developed fast as a bank with a digital focus, despite having no physical branches.
Revolut aims to apply for a banking license in France through the Autorité de Contrôle Prudentiel et de Résolution (ACPR) to increase its activities in the country. Thanks to this step, the company could obey local laws and create trust among French customers.
Revolut pointed out that, while its operations are moving more toward France, Lithuania will still be a key contributor to its European growth. Both offices will join efforts to enhance the company’s operations and growth strategy.
He said the success of the Choose France summit could result in over €20 billion worth of total investments from the companies in attendance. Many consider Revolut’s investment to be a significant boost for the French economy and an expression of faith in France’s potential as a business center.
Overall, Revolut’s $1.1 billion investment and search for a banking license prove its dedication to building in Europe. By implementing this strategy, the company wants to become the top digital bank on the continent.
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