Revolut has announced plans to invest over €1 billion in France over the next three years as it prepares to apply for a French banking licence. The move comes as the digital banking giant doubles down on its European expansion strategy, with France now standing as its largest EU market, boasting 5 million customers and 300 employees.
As part of the investment, Revolut will establish its new western European headquarters in Paris and create at least 200 new jobs in the country. The company has set an ambitious goal to double its French user base to 10 million by the end of 2026 and reach 20 million by 2030.
While Revolut currently operates under a Lithuanian banking licence, enabling it to passport services across the EU, the firm is pivoting toward obtaining full regulatory approval in key individual markets. CEO Nik Storonsky admitted that not securing local licences sooner had been a strategic oversight. The company is now pursuing ten licence applications globally and recently received a Prepaid Payment Instruments licence from India’s central bank.
Despite the shift to France, Revolut emphasised that Vilnius will remain a vital hub for European operations, including product development and continued expansion efforts.