As it opens its new global headquarters in Canary Wharf, fintech giant Revolut has pledged to invest £3 billion in the UK, creating 1,000 new high-skilled jobs over the next five years.
Revolut’s commitment follows significant investments last week, including £100 billion from asset manager Blackstone, £7 billion from BlackRock, and £1.25 billion from US financial firms like PayPal and Bank of America, resulting in 1,800 jobs across major cities such as London, Edinburgh, Belfast, and Manchester.
Chancellor of the Exchequer, Rachel Reeves, stated: “Through our Leeds Reforms, we’re making Britain the best place for financial services companies to do business, pushing us ahead in the global race for investment and putting more money in people’s pockets through the Plan for Change.”
Earlier this year, the Financial Times noted Reeves had clashed with Bank of England governor Andrew Bailey regarding efforts to expedite Revolut’s authorization as a fully-licensed bank, expressing eagerness for the fintech to receive approval.
Revolut’s UK commitment is part of a broader five-year global strategy to invest £10 billion and create 10,000 jobs as it aims for 100 million customers by mid-2027 and plans to enter 30 new markets by 2030. The company is set to launch as a bank in Mexico next year, with similar expansion plans for Colombia and Argentina. Having secured a payments license in April, Revolut is also preparing to enter India, and a push into Africa is set to begin, starting with South Africa.
Nik Storonsky, CEO of Revolut, remarked: “Our mission has always been to simplify money for our customers, and our vision to become the world’s first truly global bank is the ultimate expression of that. From our roots here in the UK, we’ve grown to serve over 65 million customers globally, and today’s opening of our new Global HQ in London is the launchpad for our future. This HQ will be central to driving our growth towards our next milestone of 100 million customers.”