UK fintech behemoth Revolut has announced plans for a new Western Europe HQ in Paris and is investing €1bn over the next three years in France.
The neobank, valued at $45bn (€40bn), is Europe’s most valuable private tech company. The investment, which Revolut says marks the largest made in the French financial sector in a decade, is expected to create over 200 jobs.
The announcement was made during the Choose France summit, an annual gathering of CEOs organised by the French president Emmanuel Macron and intended to attract foreign investments into the country. Last year, the event secured €15bn in foreign investments.
Revolut’s global HQ is in London but the company opened an HQ in Lithuania in 2018 to secure a European banking license and expand its operations in the EU.
The new French hub will oversee Revolut’s operations in France, Spain, Italy, Portugal, Ireland and Germany, while the Lithuanian structure will continue to operate for other European markets. The neobank confirmed that it also plans to apply for a French banking licence.
“Our dual-hub model, with Lithuania continuing as our key base for Eastern Europe, allows us to scale faster, deepen regulatory cooperation, and bring better, more locally aligned financial services to millions of customers across the European Economic Area,” Revolut’s chief growth officer Antoine Le Nel wrote in a LinkedIn post.
Le Nel said that France has been Revolut’s fastest-growing market with over 5m customers, including 1.6m new users in 2024.
Founded in 2015 by Nik Storonsky and Vlad Yatsenko as a financial travel app, Revolut recently achieved profitability for the second year in a row, posting £1.1bn (€1.3bn) in pre-tax profit for 2024. This compared to £438m (€520m) in 2023.
Revolut is expected to pursue an IPO in 2026, with the company's leadership reportedly leaning towards a US listing, rather than London.
