Revolut has pledged to invest £3 billion in the UK over the next five years in a move that will create 1,000 new jobs, strengthening the country’s status as a hub for global financial services.
Chancellor Rachel Reeves hailed the announcement as a “vote of confidence in Britain” as she formally opened the fast-growing digital bank’s new global headquarters in Canary Wharf.
Nik Storonsky, chief executive and co-founder of Revolut, said the London hub would be central to the company’s ambitious growth plans. Revolut now serves 65 million customers worldwide, with Storonsky targeting 100 million in the near future. The UK investment forms part of a wider £10 billion global programme to create 10,000 jobs over five years.
Founded in 2015, Revolut already employs more than 10,000 people globally, with 1,300 in London. Its latest secondary share sale reportedly values the firm at $75 billion — potentially making it worth more than established UK banks such as Barclays or NatWest.
The fintech offers an expanding suite of services including international money transfers, credit and debit cards, cryptocurrency trading, and share dealing. It has 12 million UK customers and is seeking approval to operate as a fully licensed UK bank. Storonsky said “rolling out our UK bank” was his top priority, with international expansion also on the agenda through a banking licence in Mexico and a planned launch in India.
Reeves noted that the commitment comes during a wave of investment announcements from global financial giants, with over £110 billion pledged to Britain in the past week by Blackstone, BlackRock, and PayPal.
“The UK is well and truly open for business under this government,” Reeves said. “Through our Leeds Reforms we’re making Britain the best place for financial services companies to do business, pushing us ahead in the global race for investment and putting more money in people’s pockets.”
Analysts predict Revolut will sustain 50% revenue growth into 2025–26, with Bloomberg Intelligence’s Tomasz Noetzel describing its latest rise in customer numbers as “a wake-up call for traditional banks.”
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.