Revolut is pursuing regulatory licenses in France and the United States as part of its expansion strategy, according to Béatrice Cossa-Dumurgier, CEO for Western Europe. The fintech company has committed to investing $1.1 billion in the French market and has secured a 10-year lease for an office near the Paris Stock Exchange.
Discussions with France's Prudential Supervision and Resolution Authority are reportedly in advanced stages. Upon receiving approval, Revolut plans to offer regulated savings products, including mortgages and Livret A accounts, enhancing its financial services portfolio in France.
Revolut Seeks Licenses in France and U.S., Plans $1.1 Billion French Expansion
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