Revolut’s £3 billion UK investment and new banking licence mark a pivotal growth surge

Revolut announces a £3 billion investment and plans to create 1,000 jobs in the UK as it advances towards full banking licence, signalling a major boost for the UK’s financial services sector amidst global expansion ambitions.

Revolut has announced a major commitment to the UK market, pledging to invest £3 billion and create 1,000 high-skilled jobs over the next five years as part of its ongoing quest to obtain a full British banking licence. This significant investment was unveiled at the opening of the fintech’s new global headquarters in Canary Wharf, London, which co-founder and CEO Nik Storonsky described as the “launchpad” for its future growth ambitions. Storonsky emphasised that Revolut aims to become the “world’s first truly global bank,” with plans to expand its customer base from 65 million—including 12 million in the UK—to 100 million by mid-2027.

This latest announcement forms part of a broader surge in investments within the UK’s financial services sector, which has seen commitments exceeding £110 billion from major players such as Blackstone, BlackRock, and PayPal. Chancellor Rachel Reeves welcomed Revolut’s investment as a clear signal that the UK remains “well and truly open for business,” reinforcing the country’s position as a global finance hub.

Established in 2015, Revolut now employs over 10,000 people globally, including around 1,300 in London. It is currently valued at approximately £55 billion. However, despite the company’s rapid growth and multiple licence applications since 2021, it has faced a protracted wait to secure a full UK banking licence. While earlier hopes for imminent approval have not been realised, more recent developments show Revolut has obtained a UK banking licence under restrictions, permitting it to enter a “mobilisation” phase. This gives the firm the ability to build its UK banking operations, expand its workforce, and enhance its IT infrastructure, although it must operate within limits on total deposits. Revolut has committed to resolving outstanding regulatory requirements within a year, demonstrating steady progress in meeting stringent oversight conditions.

In line with this expanding operational capacity, Revolut recently announced plans to hire an additional 1,500 staff by the end of 2024, particularly in sales, customer support, and anti-financial crime roles. This expansion contrasts with widespread job cuts across many tech firms and traditional banks, underscoring Revolut’s robust growth trajectory amid a challenging economic environment.

Beyond the UK, Revolut is actively exploring international expansion, including a potential acquisition of a US bank or a US banking licence to strengthen its global footprint. The company is targeting a $75 billion valuation through a secondary share sale and plans global investments totalling $13 billion over five years, including $4 billion earmarked for the UK. In continental Europe, Revolut has boosted its leadership ranks with the appointment of Frédéric Oudéa, former CEO of Société Générale, to head its Western Europe operations in Paris as part of ambitious plans to secure a banking licence in France and invest €1 billion over three years.

Revolut’s recent regulatory wins extend to its trading services as well. Revolut Trading Ltd has been granted a UK trading licence by the Financial Conduct Authority, authorising it to offer new trading products such as UK-listed stocks. This development complements its restricted banking licence and is expected to significantly enhance the trading experience for Revolut’s UK customers, paving the way for further product innovation.

Despite some hurdles in the licensing process, Revolut’s co-founder remains unwavering in his commitment to the UK, describing it as its “home country.” The firm’s ongoing investments, job creation, and regulatory advancements suggest it is positioning itself to rival established banks more effectively and to solidify its role as a leading fintech on the world stage.

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Source: Noah Wire Services

Noah Fact Check Pro

The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.

Freshness check

Score:
10

Notes:
The narrative is current, with the latest publication date being 23 September 2025. The £3 billion investment and 1,000 job creation were announced at the opening of Revolut’s new global headquarters in Canary Wharf, London. ([gov.uk](https://www.gov.uk/government/news/new-revolut-hq-caps-110-billion-week-of-investment-in-uk-financial-services-sector?utm_source=openai))

Quotes check

Score:
10

Notes:
Direct quotes from CEO Nik Storonsky and Chancellor Rachel Reeves are consistent with their previous statements. Storonsky’s vision of becoming the ‘world’s first truly global bank’ aligns with his earlier remarks. ([gov.uk](https://www.gov.uk/government/news/new-revolut-hq-caps-110-billion-week-of-investment-in-uk-financial-services-sector?utm_source=openai))

Source reliability

Score:
10

Notes:
The narrative originates from reputable sources, including the UK government’s official website and Reuters, ensuring high reliability. ([gov.uk](https://www.gov.uk/government/news/new-revolut-hq-caps-110-billion-week-of-investment-in-uk-financial-services-sector?utm_source=openai))

Plausability check

Score:
10

Notes:
The claims are plausible and supported by recent developments. Revolut’s £3 billion investment and 1,000 job creation are part of a broader £110 billion investment surge in the UK financial services sector. ([gov.uk](https://www.gov.uk/government/news/new-revolut-hq-caps-110-billion-week-of-investment-in-uk-financial-services-sector?utm_source=openai))

Overall assessment

Verdict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary:
The narrative is current, with no signs of recycled content or disinformation. It is supported by direct quotes from reliable sources and aligns with recent developments in the UK financial services sector.