Revolut, Britain’s leading digital bank, announced on Tuesday that it is exploring the purchase of a U.S. bank as part of its global expansion strategy. At the same time, the company is preparing to launch consumer credit in the UK, aiming to compete more directly with traditional lenders.
The London-based fintech has grown into Europe’s most valuable startup in its sector. Revolut is now targeting a $75 billion valuation through a secondary share sale. With 65 million customers worldwide, it has already surpassed some major European banks in size, although its deposits and revenue remain smaller.
During the unveiling of Revolut’s new headquarters in Canary Wharf, CEO Nik Storonsky highlighted the company’s ambitious plans. He said Revolut would invest $4 billion in the UK out of a total $13 billion earmarked for global expansion by 2030. Storonsky reaffirmed that Britain remains the company’s home base and top priority.
In the U.S., Revolut is “actively looking” at acquiring a bank or applying for its own license, according to U.S. CEO Sid Jajodia. He stressed that holding a banking license in every market is essential, especially in America, where Revolut’s presence is still small.
Securing a UK banking license also remains critical. Executives confirmed that transferring Revolut’s 12 million UK customers into the new bank and offering credit products is a key milestone, with approval expected later this year.
Future investments will also bring 1,000 new jobs in Britain and additional capital for the UK bank. Globally, Revolut plans to expand into 30 new markets by 2030, including Latin America, Asia, and the Middle East. The company has also set a target of reaching 100 million customers by mid-2027.
Despite reporting a pre-tax profit of £1.1 billion last year, partly boosted by cryptocurrency revenues, analysts note that average customer deposits at Revolut remain lower compared to traditional banks. Executives acknowledge that too few customers use it as their primary account.
