Digital bank Revolut plans to "invest US$13 billion in five years" to promote global expansion: add 30 new markets and create 10,000 jobs by 2030
Digital bank Revolut has made a big move, announcing that it will invest US$13 billion in five years to promote its global expansion. The goal is to add 30 new markets, create 10,000 jobs by 2030, and double the size of its employees.
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According to "Barrons" report, the digital bank Revolut made a big move and announced that it will invest 130 million yuan in five years. billion to promote global expansion, with the goal of adding 30 new markets, creating 10,000 jobs, and doubling the size of its workforce by 2030.
US$13 billion investment reveals ambition
Revolut is a British financial technology company (FinTech) founded in 2015 and headquartered in London. It started as an exchange and transfer service. Revolut is considered a digital bank that mainly provides financial services through a mobile app rather than a traditional brick-and-mortar bank. Revolut currently provides services such as stock, cryptocurrency, fund trading, and has a secondary market valuation of $75 billion.
For this US$13 billion investment, Revolut said it will first focus on the United Kingdom (US$4 billion), France (US$1.2 billion) and the United States (US$500 million), and then gradually enter emerging markets such as Mexico, India, and South Africa. Sid Jajodia, Revolut's head of banking, stressed that Revolut's cash flow and capital generation capabilities are "sufficient to be self-sufficient" and it does not need to rely on external financing to promote this investment plan.
The US license becomes a key challenge
It is worth mentioning that for Revolut, the United States, as the world’s largest financial market, is both a dessert and a tough nut. Sid Jajodia said that Revolut hopes to obtain a U.S. license by the end of next year, but it needs to overcome many difficulties: U.S. bank licenses must pass multiple reviews by the Fed, OCC, FDIC and other agencies at the same time, and the requirements for capital adequacy, anti-money laundering and risk management are also very strict.
However, after evaluation, Revolut has thought of two paths: one is to acquire a local licensed bank, which will shorten the time to enter the US market; the other is to apply for a license on its own, which is time-consuming and labor-intensive, but can have more autonomy.
IPO and the New Game of Digital Finance
It is widely speculated in the industry that Revolut is preparing for its initial public offering (IPO), targeting the US market, and hoping to obtain more liquidity and regulatory dividends.
Looking at the entire industry, some analysts point out that the size of the global financial technology market is expected to climb to US$1.58 trillion by 2033 at a compound annual growth rate of 25% from 2025. Among them, embedded finance and mobile wallets will be the fastest growing areas. With Revolut’s large-scale deployment, traditional banks may also be forced to accelerate digital transformation to meet consumers’ expectations for financial services in the new generation.