Revolut Secures Full Banking License in France Amid €1 Billion Investment Push

Revolut Bank has secured a full banking license in France, marking a significant milestone in its European expansion. The license was granted by a joint assessment of the Prudential Control and Resolution Authority of France and the European Central Bank (ECB). This achievement follows an investment of over €1 billion in Western Europe over the past 12 months, which has seen Revolut add more than 600 professionals to its team.

The company plans to open a new headquarters for Western Europe in Paris by 2027. Revolut currently serves nearly 30 million users in the region, with around 8 million joining in the last year alone.

Frédéric Oudéa will chair the board of directors, while Béatrice Cossa-Dumurgier will take on the role of CEO for Western Europe. The French license is seen as a key step towards Revolut's goal of becoming one of the largest and most trusted banks in Europe.

The company has also outlined its plans to gradually roll out services across Europe, with France being the first market. Other countries, including Germany, Spain, Ireland, Italy, and Portugal, will be added later on. The Lithuanian entity of Revolut Bank UAB will continue to operate as a key element in the European Economic Area (EEA).