Revolut invested £3 billion to create 1,000 jobs in major fintech expansion
Revolut has pledged to invest £3 billion in the UK over the next five years, a move that will create 1,000 new jobs, strengthening the country’s position as a global financial services hub.
Prime Minister Rachel Reeves officially opened a fast-growing global headquarters of digital banks at Canary Wharf, expressing his appreciation for the “vote of confidence in the UK”.
Revolut CEO and co-founder Nik Storonsky said the London hub would be at the heart of the company’s ambitious growth plan. Revolut now serves 65 million customers worldwide, and Storonsky targets 100 million customers in the near future. UK investment forms part of a broader £10 billion global plan that has created 10,000 jobs in five years.
Founded in 2015, Revolut has more than 10,000 employees worldwide and 1,300 employees in London. Its latest secondary stock sales are reportedly valued at the company’s $75 billion, which could make it worth more than the value of British banks such as Barclays or NATWEST.
FinTech offers an expanding suite of services including international currency transfers, credit and debit cards, cryptocurrency trading, and stock trading. It has 12 million UK customers and is seeking approval to operate as a fully licensed UK bank. Storonski said “launch of our UK bank” was his top priority, and international expansion was also passed a bank license in Mexico on the agenda and planned to be launched in India.
Reeves noted that the commitment was made in a series of investment announcements by global financial giants, with Blackstone, BlackRock and PayPal pledging more than £110 billion to the UK over the past week.
“Britain has good business under this government and is truly open,” Reeves said. “Through our Leeds reform, we have made the UK the best place for financial services companies to do business, giving us the lead in the global investment competition and putting more money in people’s pockets.”
Analysts predict Revolut will maintain 50% revenue growth over 2025-26, with Tomasz Noetzel of Bloomberg Intelligence describing its latest rise in customer numbers as a “wake-up call to traditional banks.”
