Revolut to invest £3 billion in UK, creating 1,000 jobs as it pursues UK banking licence

Revolut unveiled plans to invest £3 billion in the United Kingdom and create 1,000 new jobs as it presses ahead with its bid for a full UK banking licence. The announcement came at the opening of its global headquarters in Canary Wharf, London, where co-founder Nik Storonsky described the investment as the cornerstone of a broader £10 billion global drive designed to lift Revolut’s worldwide workforce to about 10,000 and expand its customer base from 65 million to 100 million by mid-2027, with roughly 12 million users in the UK.

Storonsky said the London HQ would serve as a launchpad for the company’s future, underscoring the UK as its home country and top priority. Revolut also said it is exploring the purchase of a US bank as part of its international expansion.

Chancellor Rachel Reeves welcomed the investment, saying it signals the UK remains open for business and underlines the country’s attractiveness to fast-growing fintechs. Revolut has been seeking a full UK banking licence since 2021; regulators have previously indicated that approval was imminent, and the company has repeatedly said obtaining a licence remains a top priority.

Revolut is a privately held fintech founded in 2015 that has grown rapidly into a global payments platform. The company now employs more than 10,000 people worldwide, including about 1,300 in London, and is valued at roughly £55 billion. The UK banking licence hurdle remains a key regulatory milestone, but supporters say the investment would strengthen the country’s fintech ecosystem and help shield Britain’s financial sector from over-reliance on more established lenders. Storonsky has framed the expansion as part of a broader push to position Revolut as a major global banking player, with the UK as its base.