Revolut Group, the global fintech with over 55 million customers and more than 40 million in Europe, has announced the creation of a new Western Europe HQ in Paris.
Revolut said the Paris HQ will complement its existing European base in Lithuania and host the company’s future operations across Western Europe.
The firm will submit a French banking licence application with the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the regulator responsible for overseeing the French banking sector.
Revolut said it will invest over €1 billion in France over the next three years, creating 200 new jobs.
Nonetheless, it said Lithuania remains a key base for Revolut’s growth in Europe.
“Now one of the fastest-growing banks in European history, Revolut’s bank in the EEA is solidifying its status as one of the few financial institutions serving customers across all 30 countries,” said Revolut.
“With plans to surpass 100 million customers globally in the coming years, Revolut is already one of Europe’s largest banks and is on track to become one of the world’s biggest financial institutions …
“To support this growth, Revolut has been establishing local branches since 2021, starting with France, followed by Spain, Ireland, the Netherlands, Germany, Romania, Italy. Further branches are scheduled to open in the next few months across other European markets.
“Building on the foundation of its local branch network, Revolut is taking a step further in its European growth strategy by announcing its application for a French banking licence and the foundation of a Western Europe HQ, in addition to the existing Lithuanian entity, based in France.
“This dual-HQ model for the EEA will allow Revolut to deepen its presence in key markets, strengthen local regulatory engagement, and provide tailored services more effectively to its millions of customers in the region.”
Revolut’s Western Europe HQ will initially serve its operations in France, with branches in Ireland, Germany, Portugal, Spain, and Italy later joining the expansion, while the Lithuanian HQ will continue to serve Revolut’s customers in other European markets.
Sid Jajodia, Revolut’s Chief Banking Officer, said: “This marks a pivotal moment for Revolut’s European banking strategy. Establishing our Western Europe HQ in Paris and applying for a French banking licence positions us closer to our largest and fastest-growing customer base.
“France’s dynamic banking ecosystem, robust regulatory environment, and strategic position as a financial hub provide the ideal foundation to accelerate our growth and deepen customer relationships. This move complements our existing bank in Lithuania, which remains a vital pillar supporting Revolut’s continued pan-European expansion; as well as our global HQ in London.”
Antoine Le Nel, Chief Growth and Marketing Officer at Revolut, said: “Our ambition is clear: want to become the largest banking group in Europe, revolutionising banking and offering cutting-edge financial services to customers across all 30 EEA countries.
“To bring this vision to life, we’re introducing an innovative dual-HQ operating model in the EU. This strategic move will enable us to offer an extended range of products and services, all within one of the most secure and protective banking structures established in the region.”
Éric Lombard, French Minister of the Economy, Finance, and Industrial and Digital Sovereignty, explained: “Revolut’s decision to establish its Western European headquarters in Paris is excellent news, and a clear reflection of international investors’ confidence in the attractiveness of France. This decision — one of the largest foreign investments in the financial sector in France in the past ten years — further strengthens Paris’ position as the leading financial hub in Europe.”