Revolut Secures Banking License in France, Expands EU Operations

Revolut Gains Banking License in France

Revolut has recently secured a full banking license in France, marking the establishment of its second banking entity within the European Union. This move is part of the fintech company’s strategy to transition over 30 million customers across Western Europe to a Paris-based operation.

Expansion and Services Offered

The new French unit will initially cater to customers in France and will gradually extend services to Germany, Ireland, Italy, Portugal, and Spain. The banking license enables Revolut to offer a range of locally regulated products, including loans, mortgages, and regulated savings accounts. Some of these offerings could resemble France’s Livret A savings account.

Revolut has committed over €1 billion to its operations in France, where it plans to establish its Western European headquarters by 2027. The approval of the banking license came after a thorough review by the European Central Bank (ECB) in collaboration with France’s Autorité de Contrôle Prudentiel et de Résolution.

Customer Growth and Future Plans

The company has experienced significant growth in its French customer base, reaching more than seven million by early 2026 – a rise of approximately 2.5 million from 2025. Revolut aims to hit 10 million customers by 2027.

Béatrice Cossa-Dumurgier, Revolut’s CEO for Western Europe, stated that the rollout will begin with French customers, followed by other Western European markets. The company is focused on localizing its products for both retail and business customers.

Regulatory Considerations

Despite the opportunities presented by the new license, regulatory conditions set by the ECB could limit the initial rollout of some services. Reports indicate that the French banking operation might face restrictions similar to those previously imposed on Revolut’s Lithuanian entity. These conditions may impact the timing of the introduction of new banking products.

Financial Performance and Broader Regulatory Strategy

In 2025, Revolut reported a substantial growth in revenue, achieving $6 billion – up 46% from the previous year – while net profit reached $1.7 billion. As the company continues to expand its regulatory footprint, it has recently secured banking licenses in both the UK and Australia, alongside progressing various crypto-related regulatory approvals globally.