In a significant strategic development, Revolut, Europe’s most valuable private technology firm, has declared its intention to establish Paris as its headquarters for Western Europe and will seek a French banking license.
This move, unveiled to coincide with President Emmanuel Macron’s “Choose France” business summit, underscores the company’s ambition to become the largest banking group across the continent. Revolut plans to inject over €1 billion into its French operations over the next three years.
France: The Epicenter of Revolut’s EU Growth
France has rapidly emerged as Revolut’s fastest-growing market within the European Union, already boasting over five million customers out of its global total of more than 55 million. The company, which reported impressive revenues exceeding £3 billion in 2024, views this substantial investment as a clear indicator of its aggressive growth strategy.
The new Paris hub will be pivotal in overseeing Revolut’s operations not only in France but also in Spain, Italy, Portugal, Ireland, and Germany. Despite this significant expansion in continental Europe, Revolut confirmed that London will continue to serve as its global headquarters.
A Strategic Dual-HQ Model for Enhanced Operations
As part of its evolving operational structure, Revolut is adopting a “strategic move” by establishing two European Economic Area (EEA) headquarters: Paris, France, and its existing base in Lithuania. According to company officials, this dual-HQ approach is designed to “scale faster, deepen regulatory cooperation, and bring better, more locally aligned financial services” to its extensive customer base in the region.
Leadership Outlines Vision for Market Leadership
Antoine Le Nel, Chief Growth and Marketing Officer at Revolut, elaborated on the company’s grand vision. “Our ambition is clear: we want to become the largest banking group in Europe, revolutionizing banking and offering cutting-edge financial services to customers across all 30 EEA countries,” he stated.
Le Nel further explained the rationale behind the new structure: “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.”
€1 Billion Investment and Job Creation in France
The commitment to France extends beyond a new office. Revolut’s planned investment of over €1 billion over the next three years is a substantial financial undertaking aimed at solidifying its presence. This investment is also expected to fuel job creation, with the company targeting the addition of more than 200 new roles. This will significantly increase its current French workforce, which stands at approximately 300 employees.
Securing a French Banking License: A Prudent Step
A crucial component of Revolut’s French expansion is its application for a banking license with the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the regulatory body responsible for overseeing the French banking sector. While Revolut already possesses a European banking license granted by authorities in Lithuania—which permits it to offer personal loans in France, Germany, and Spain—the pursuit of a second EU banking license is seen as a prudent measure.
With over 40 million customers already in the EEA region and a continuous expansion of its product and service offerings, securing an additional license is aimed at bolstering its regulatory standing and operational capabilities.
Global Expansion and Strategic Timing at “Choose France”
This move is part of a broader global strategy for regulatory integration. Revolut recently secured a banking license in Mexico and is actively working towards obtaining full authorization for a banking license in the United Kingdom. The establishment of the Paris HQ and the French banking license application are significant milestones in this ongoing effort to embed itself more deeply within national regulatory frameworks, thereby enhancing trust and enabling a wider array of financial services.
The “Choose France” summit, expected to attract around €20 billion in new investment, provided a high-profile platform for Revolut to announce these ambitious plans, aligning its corporate growth with France’s economic objectives.
