Revolut plans $1.1 billion French expansion, will apply for banking licence

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.

The Choose France summit should bring in more than 20 billion euros worth of investments, Macron said in an interview published by the Ouest-France newspaper on Friday.