Revolut secures French banking licence, eyes Western Europe expansion

The European Central Bank’s Governing Council greenlit the licence following a joint review with France’s Autorité de Contrôle Prudentiel et de Résolution. While the company previously serviced French users through its Lithuanian entity, the new French charter enables the deployment of locally regulated products, including accounts similar to the Livret A. Revolut has committed over €1 billion to its French operations, where it currently employs more than 600 people and serves seven million customers.

Founder and CEO Nik Storonsky identified France as a critical anchor for the firm’s next stage of growth, with plans to eventually transition Germany, Ireland, Italy, Portugal, and Spain to the new French entity. Despite the regulatory milestone, the company faces potential operational hurdles; reports suggest the ECB may impose restrictions similar to those applied to its Lithuanian unit, which could influence the speed at which complex lending products reach the market. This expansion coincides with a broader push for global regulatory legitimacy, including a UK banking licence secured in March and a recent entry into the Australian market. With a private-market valuation now reaching $115 billion, Revolut continues to prioritize these institutional foundations over an immediate initial public offering, which the firm does not expect before 2028.