The financial technology firm Revolut announced today its plans to invest over 1 billion euros in France over the next three years, creating more than 200 new jobs. The company aims to establish a new headquarters for Western Europe in Paris and secure a French banking license.
Revolut stated that this move is intended to “deepen market presence in key regions, strengthen local regulatory engagement, and provide more tailored services to its millions of customers in the area.”
Once the new French headquarters is operational, Revolut will manage its European Economic Area operations across two main bases: its current headquarters in Lithuania and the new Paris location.
In Portugal, Revolut currently operates under its Lithuanian branch using the passporting system and plans to open a local branch soon. Although a precise timeline was not provided, the company indicated that this opening is imminent.
Initially, this Portuguese branch will report to Revolut Bank UAB in Lithuania, but the goal is for it to later become a subsidiary of the French bank, once it becomes functional.
In addition to Portugal, the markets of Italy, Spain, Ireland, and Germany will also be integrated into the French banking structure.
In Portugal alone, Revolut services over 1.5 million clients.
Customer deposits from Portuguese residents with Revolut are currently protected by the Lithuanian deposit guarantee fund, a policy that will remain in place when the new Portuguese branch comes under Revolut Bank UAB, according to official information provided to Lusa news agency.
In 2024, the Revolut group reported a profit of 934 million euros, more than doubling its profit of 395 million euros from 2023.
As of the financial data released in April, Revolut’s global revenues increased to 3.7 billion euros in 2024, up from 2.1 billion euros in 2023, driven by growth across all business segments.
Globally, Revolut has over 50 million customers and is aiming to exceed 100 million in the coming years.
