“Revolut is doubling down in Europe”.
That was how Revolut’s chief marketing officer announced the organisation’s expansion in Europe.
In the same post, Antoine Le Nel said Revolut had chosen Paris as the location for it’s Western Europe headquarters, a strategic move to enhance its presence in one of the company’s fastest-growing markets.
His announcement also includes the application for a French banking license, marking a significant moment in the fintech’s ambitions to build a customer-centric bank for the European market.
This new headquarters will oversee operations in France, Spain, Italy, Portugal, Ireland, and Germany, reinforcing Revolut’s footprint across both Western and Southern Europe. France, in particular, has proven to be a key growth market for the company, with Revolut reporting over five million customers in the country and an additional 1.6 million new users in 2024 alone.
The move comes as Revolut continues its rapid expansion across Europe. The company has grown its customer base from 12 million in 2020 to over 52.5 million globally by 2024, reflecting a 38% year-over-year growth. The company’s revenue has followed a similar upward trajectory, with a reported £1.8 billion in revenue in 2023, a 95% increase from the previous year.
Revolut’s decision to base its new hub in Paris is likely driven by France’s thriving financial ecosystem and strong regulatory environment. With the European Union’s regulatory framework serving as a benchmark for financial services across the region, the French market presents both an opportunity for growth and a robust foundation for Revolut’s regulatory strategy.
This new development signals Revolut’s intention to become a leading player in Europe’s banking sector. Its dual-hub model, with Lithuania remaining its key base for Eastern Europe, allows the company to scale quickly, while fostering deeper regulatory cooperation across the European Economic Area.
The model also enables the company to offer more tailored financial services that align with local market needs.
Revolut’s drive to expand into the traditional banking space comes as the company continues to diversify its product offerings. The fintech has steadily introduced new services such as savings accounts, loans, and investment products, while expanding into global markets such as the United States, Australia, and Japan.
In 2024, Revolut reported revenues exceeding $4 billion, marking a significant leap in its quest to rival traditional banks in Europe.
With the opening of its new Paris headquarters, Revolut aims to not only strengthen its European presence but also accelerate its ambitions of becoming the region’s leading banking group. The company is combining its existing digital-first model with localised financial services to capture an ever-growing customer base in Europe.
