Revolut looks to France for major European expansion
British-born digital bank Revolut has chosen Paris for its fresh Western Europe headquarters with a major €1bn investment.
The fintech giant said it will create over 200 jobs in France, in what it calls the “largest investment in the French financial sector in a decade.”
The firm has also applied for a French banking licence, which it revealed at the “Choose France” investment summit hosted by President Emmanuel Macros at Versailles.
Whilst London will remain its global headquarters, the move follows a series of tribulations in its UK business.
Revolut finally secured a UK banking licence last year after a three-year wait that resulted in Nikolay Storonsky, the fintech’s chief executive, blasting the UK for its “extreme bureaucracy.”
Storonksy had previously dismissed the notion of a London listing for the firm as “not rational” when compared to the liquidity offered in US markets.
Meanwhile, Sid Jajodia, Revolut’s chief banking officer, said new operations in Paris would put the company closer to its “largest and fastest-growing customer base.”
Jajodia praised France’s “dynamic banking ecosystem” and cited strong regulatory framework as key factors behind the move.
Revolut valued at $45bn
Revolut, which was founded in 2015, topped £1bn in profit for the first time in 2024.
The fintech darling’s revenue surged 72 per cent to £3.1bn after its customer base swelled 38 per cent to 52.5 million.
A staff share sale in 2024 gave the firm a $45bn valuation cementing its status as the UK’;s most valuable fintech.
Officials in Paris celebrated the endorsement from the fintech giant.
Augustin de Romanet, President of Paris Europlace, added: “Revolut’s strategic investment — as Europe’s leading fintech — reinforces Paris’ standing as a key financial centre, supported by a robust, innovative, and forward-looking ecosystem.
“This choice reflects the strong momentum we are collectively building to strengthen France’s economic competitiveness and international influence.”