Revolut pledges £3BN UK investment

Revolut today pledged a £3bn investment in the UK and the creation of 1,000 UK jobs, as it opened its new global HQ in London.

Europe’s most valuable private tech firm said the £3bn investment included recruiting for 1,000 roles, particularly in its B2B business, the continued development of its new HQ, as well as capitalising the UK bank as it expects to exit the mobilisation phase and get its much-sought-after UK banking licence.

Revolut, valued at $75bn, said the £3bn UK investment was part of a broader five-year plan to invest £10bn and create 10,000 jobs globally. Revolut currently has more than 10,000 employees.

Revolut, which currently has over 65m customers globally, including 12m in the UK, says it aims to hit the 100m customer mark by mid-2027.

Nik Storonsky, CEO & co-founder of Revolut, said: "Our mission has always been to simplify money for our customers, and our vision to become the world’s first truly global bank is the ultimate expression of that.

"From our roots here in the UK, we've grown to serve over 65 million customers globally, and today's opening of our new Global HQ in London is the launchpad for our future. This HQ will be central to driving our growth towards our next milestone of 100 million customers.

"To power that journey from our home market, we are investing £3 billion in the UK over the next five years. This commitment will not only create 1,000 new jobs but will also fuel the innovation from our London hub that will help us deliver on our global ambitions."

Revolut also announced updates to its international expansion plans, including launching as a bank in Mexico early next year and plans to soon launch in India.