London-based Revolut, a multinational neobank and fintech company, has announced during today’s Choose France Summit that Paris will be the location of its new Western Europe headquarters.
As part of its expansion, the company will soon apply for a banking licence in France and plans to invest over €1B in the country over the next three years.
This investment is expected to create more than 200 jobs and will be the largest foreign investment in the French financial sector in over a decade.
The UK fintech company is solidifying its status as one of the few financial institutions serving customers across all 30 EEA countries.
Antoine Le Nel, Chief Growth and Marketing Officer at Revolut, says, “Our ambition is clear: we want to become the first 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.”
To support this growth, the fintech company has been establishing local branches since 2021, starting with France, followed by Spain, Ireland, the Netherlands, Germany, Romania, and Italy.
Additional branches are scheduled to open in the next few months across other European markets.
Applying for French banking licence
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.
Pierre Décoté, Group Chief Risk & Compliance Officer, explains, “France is Revolut’s largest market with 5 million customers and fastest-growing EU market (+1.6M customers in 2024), offering significant opportunities for expansion and innovation. Paris is a natural fit as a gateway to accelerate Revolut’s growth trajectory in Europe and beyond, thanks to its dynamic banking ecosystem, strong regulatory framework, and rising prominence as a financial hub.
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.
“Lithuania will remain a cornerstone of our European operations, with Revolut Bank UAB continuing to serve customers across Europe, supervised by the European Central Bank (ECB) and the Bank of Lithuania,” adds Décoté.
Hiring 200 professionals
The Western Europe HQ will be led by a highly skilled team of top industry leaders showcasing Revolut’s dedication to localised expertise.
Revolut is actively recruiting top talent, with plans to hire at least 200 professionals in France.
Looking ahead to 2025, Revolut plans to launch new products to grow its services in Europe. It includes mortgages, mobile phone plans, overdrafts, and more to meet the changing needs of customers.
Éric Lombard, French Minister of the Economy, Finance, and Industrial and Digital Sovereignty, explains, “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.”
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