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Revolut has committed to invest £3 billion in the UK over the next five years, a strategy that will generate 1,000 new positions, bolstering the nation’s reputation as a center for international financial services.
Chancellor Rachel Reeves praised the revelation as a “demonstration of confidence in Britain” as she officially inaugurated the rapidly growing digital bank’s new international headquarters in Canary Wharf.
Nik Storonsky, chief executive and co-founder of Revolut, mentioned the London hub would be essential to the company’s ambitious expansion plans. Revolut currently serves 65 million clients globally, with Storonsky aiming for 100 million soon. The UK investment is part of a broader £10 billion global initiative to create 10,000 jobs over five years.
Established in 2015, Revolut already employs over 10,000 individuals worldwide, including 1,300 in London. Its recent secondary share sale reportedly values the company at $75 billion — potentially exceeding the valuation of established UK banks such as Barclays or NatWest.
The fintech delivers an expanding range of services including overseas money transfers, credit and debit cards, cryptocurrency trading, and stock trading. It boasts 12 million UK customers and is pursuing authorization to operate as a fully licensed UK bank. Storonsky stated that “launching our UK bank” was his principal focus, with international growth also on the agenda through a banking license in Mexico and a proposed unveiling in India.
Reeves remarked that the commitment occurs amidst a flurry of investment declarations from global financial leaders, with over £110 billion committed to Britain in the past week by Blackstone, BlackRock, and PayPal.
“The UK is indeed open for business under this government,” Reeves said. “Through our Leeds Reforms, we’re positioning Britain as the optimal location for financial services enterprises, propelling us ahead in the global competition for investment and putting more funds in people’s hands.”
Analysts forecast Revolut will maintain a 50% revenue growth through 2025–26, with Bloomberg Intelligence’s Tomasz Noetzel characterizing its recent surge in clientele as “a wake-up signal for traditional banks.”
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