financetom
Business
financetom
/
Business
/
Revolut weighs buying US bank in global expansion push, executive says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Revolut weighs buying US bank in global expansion push, executive says
Sep 23, 2025 6:57 AM

LONDON (Reuters) -Britain's Revolut said on Tuesday it was exploring buying a U.S. bank to accelerate its global expansion and was eyeing launching credit cards in its home market, as the digital finance firm seeks to encroach further onto the turf of traditional lenders.

The London-based company has emerged as the most valuable of a crop of European financial technology firms and is seeking a $75 billion valuation in a secondary share sale. It has 65 million customers, topping HSBC ( HSBC ), although it has a tiny fraction of HSBC's ( HSBC ) revenue due to a focus on consumers.

Unveiling the group's new headquarters in London's Canary Wharf financial district on Tuesday, executives said the company planned to significantly expand its international footprint but was committed to Britain.

"We are committed to the UK as our home country," said Nik Storonsky, Revolut's CEO and co-founder.

Revolut is looking at whether to acquire a U.S. bank or to apply for its own banking licence in the country, Revolut's U.S. CEO Sid Jajodia told Reuters, confirming earlier media reports on its U.S. ambitions.

Other Revolut executives said they hoped to obtain a UK banking licence by the end of this year - a process that has been running for several years - that would enable it to launch credit cards and unsecured credit in the country.

Revolut said it would ultimately invest $13 billion over the next five years in its global expansion, including $4 billion in Britain. The ambition compares to Revolut's total global revenues in 2024 of 3.1 billion pounds ($4.2 billion).

($1 = 0.7393 pounds)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Design software maker Figma extends gains after blockbuster NYSE trading debut
Design software maker Figma extends gains after blockbuster NYSE trading debut
Aug 1, 2025
(Reuters) -Design software maker Figma's shares rose another 10% in premarket trading on Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market. The San Francisco, California-based company's shares closed at $115.5 on Thursday, compared with its IPO price of $33. The 250% surge lifted Figma's market value to nearly $68...
BRIEF-UK Takeover Panel Says Wapping Bidco/Bbox To Submit Revised Warehouse REIT Offer by Aug 25
BRIEF-UK Takeover Panel Says Wapping Bidco/Bbox To Submit Revised Warehouse REIT Offer by Aug 25
Aug 1, 2025
Aug 1 (Reuters) - UK'S TAKEOVER PANEL: * UK'S TAKEOVER PANEL- LATEST DATE FOR WAPPING BIDCO OR BBOX TO MAKE REVISED OFFER FOR WAREHOUSE REIT IS AUG 25 Source text: Further company coverage: ...
Billionaire Ray Dalio Steps Down From Bridgewater Associates, Sovereign-Wealth Fund Of Brunei Acquires Final Stake
Billionaire Ray Dalio Steps Down From Bridgewater Associates, Sovereign-Wealth Fund Of Brunei Acquires Final Stake
Aug 1, 2025
Ray Dalio, the founder of Bridgewater Associates, has divested his remaining stake in the company and stepped down from its board. Brunei Fund Emerges As Key Shareholder Bridgewater Associates repurchased the remaining shares held by Ray Dalio, signaling the end of a difficult transition period. Following that, the firm issued new shares to the Brunei Investment Agency—Brunei's sovereign wealth fund—in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved