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, Sept 23 (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 >
US panel submits view on Nippon Steel-US Steel deal to Trump, source says
US panel submits view on Nippon Steel-US Steel deal to Trump, source says
May 26, 2025
(Reuters) - A powerful U.S. national security panel on Wednesday submitted a recommendation to President Donald Trump on Nippon Steel's fraught $14.9 billion bid for U.S. Steel, a person familiar with the matter said, without providing further detail on its contents. The submission complies with an executive order signed by Trump last month, which tasked the Committee on Foreign Investment...
Trump confronts South Africa's Ramaphosa with false claims of white genocide
Trump confronts South Africa's Ramaphosa with false claims of white genocide
May 26, 2025
WASHINGTON (Reuters) -U.S. President Donald Trump confronted South African President Cyril Ramaphosa on Wednesday with explosive false claims of white genocide and land seizures during a tense White House meeting that was reminiscent of his February ambush of Ukrainian leader Volodymyr Zelenskiy. South Africa has one of the highest murder rates in the world, but the overwhelming majority of victims...
US panel submits view on Nippon Steel-US Steel deal to Trump, source says
US panel submits view on Nippon Steel-US Steel deal to Trump, source says
May 26, 2025
May 21 (Reuters) - A powerful U.S. national security panel on Wednesday submitted a recommendation to President Donald Trump on Nippon Steel's ( NISTF ) fraught $14.9 billion bid for U.S. Steel, a person familiar with the matter said, without providing further detail on its contents. The submission complies with an executive order signed by Trump last month, which tasked...
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,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved