British finance company Revolut said on Monday it plans to invest 1 billion euros ($1.1 billion) over the next three years on expanding in France and will soon apply for a French banking licence.
In an announcement as part of the “Choose France” investment summit, hosted by French President Emmanuel Macron at Versailles Palace near Paris, Revolut said it would open a new office in Paris for its operations in Western Europe and create at least 200 new jobs in France.
Revolut is the biggest of a number of European financial services apps founded in the past decade, with more than 55 million customers but no physical branches. It gained a banking licence in Britain in 2024, after a three-year wait.
Revolut already has around 300 employees in France.
The company said that Lithuania would still be a “key base” for Revolut’s growth in Europe.
Revolut already has a Lithuanian banking licence, which it can use as a passport into the European Union, and enables it to sell products to French customers. A spokesperson for Revolut said that having a second banking licence in the bloc would allow it to build closer relationships with regulators and offer services that are more tailored for its customers in France.
Source: Reuters
