Revolut to Invest €1 Billion in France and Seek Banking License

According to PANews, British financial services company Revolut has announced plans to invest €1 billion (approximately $1.1 billion) in France over the next three years and apply for a French banking license. This announcement was made at the 'Choose France' summit held at the Palace of Versailles. As part of this expansion, Revolut will establish an office in Paris to manage its Western European operations, creating an estimated 200 new jobs in France, where the company already employs 300 people. Additionally, Revolut emphasized that Lithuania will continue to be a significant hub for its European operations. In April, it was reported that Revolut's profits for 2024 doubled to $1.3 billion, driven by user growth and a resurgence in cryptocurrency trading.