Revolut Picks Paris as New Base For Western Europe
Neobank Revolut, which also maintains a presence in Singapore, is setting up its Western European headquarters in Paris and applying for a French banking license.
UK-based neobank Revolut is expanding in Europe: As global CGO and CMO Antoine Le Nel announced on LinkedIn, the company will establish its Western European hub in the French capital.
The new headquarters will oversee operations in France, Spain, Italy, Portugal, Ireland, and Germany.
Full French Banking License
Revolut is also applying for a full French banking license, a move Le Nel describes as a major step toward becoming the most innovative and customer-centric bank in the region.
According to the announcement, France is Revolut’s fastest-growing EU market, with over 5 million customers and 1.6 million new users added in 2024 alone.
Dual-Hub Strategy with Lithuania
The Paris office will complement Revolut’s existing base in Lithuania. The dual-hub model within the European Economic Area (EEA) is intended to enhance regulatory cooperation and offer more locally tailored financial services across Western and Eastern Europe.
The announcement did not mention Switzerland, leaving it unclear how the move will impact Swiss customers. Nonetheless, persistent rumors suggest Revolut is also pursuing a Swiss banking license.
Swiss Banking License?
In the meantime, the company is encouraging its Swiss customers to migrate from the UK entity to the Lithuanian one – a shift finews.com recently discussed with Swiss country head Julian Biegmann.
