Digital banking powerhouse Revolut has inaugurated its new global headquarters in Canary Wharf, London, a move hailed by Chancellor Rachel Reeves as a significant “vote of confidence in Britain.” This strategic decision underscores the UK’s growing importance as a hub for financial technology innovation.
According to a report by the Jadeh Makhsous news website, Nik Storonsky, the CEO and co-founder of Revolut, emphasized that the London hub is central to the company’s ambitious growth strategy. Currently serving 65 million customers worldwide, Revolut aims to reach a milestone of 100 million users in the near future. This expansion is part of a broader £10 billion global initiative expected to create 10,000 jobs over five years.
Founded in 2015, Revolut has rapidly grown to employ over 10,000 people globally, with 1,300 based in London. A recent secondary share sale reportedly valued the firm at $75 billion, potentially positioning it ahead of established UK banking institutions such as Barclays or NatWest.
The fintech company offers a diverse range of services, including international money transfers, credit and debit cards, cryptocurrency trading, and share dealing. With 12 million customers in the UK, Storonsky stated that securing a full UK banking license is his top priority, alongside international expansion through a new banking license in Mexico and a planned launch in India.
According to a report by the Jadeh Makhsous news website, Chancellor Reeves highlighted that this commitment is part of a larger wave of investments in Britain, with financial giants like Blackstone, BlackRock, and PayPal pledging over £110 billion in the past week alone. Analysts are optimistic, with Bloomberg Intelligence predicting Revolut will sustain 50% revenue growth into 2025–26, describing its customer growth as “a wake-up call for traditional banks.”
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