Revolut plans to invest over $1 billion to expand its operations in France over the next three years as it prepares to apply for a French banking license.
The company intends to establish its new Western European headquarters in Paris and create at least 200 new jobs during this investment period. France is Revolut’s largest market in the European Union, boasting around 5 million customers and approximately 300 employees. The company aims to reach 10 million users by the end of 2026, with a goal of doubling that figure to 20 million by 2030.
Revolut already holds a banking license from Lithuanian regulators, allowing it to offer services across the EU. The firm has stated that Vilnius will continue to be a key base for its European expansion, with product development remaining anchored in its Baltic operations center.
However, CEO Nik Storonsky has recognized that not prioritizing regulatory oversight in significant markets has been a strategic error. Currently, the company has 10 license applications in progress worldwide and recently secured a Prepaid Payment Instruments license from India’s central bank.