Revolut is excited to enter India in the coming months as part of a global vision to reach 100 million customers, the UK-based financial technology company announced at the opening of its London headquarters this week.
According to Paroma Chatterjee, CEO of Revolut India, the fintech's hyper-localisation model, which employs a bespoke tech stack, will address Indian consumers' unique banking needs.
Key Highlights
- Revolut plans India launch to achieve 100 million global customers by mid-2027.
- Over 350,000 Indians have joined Revolut's waitlist ahead of its India debut.
Move to India
She emphasized that India is the only country where Revolut has made a significant investment to localize all tech assets, collaborating closely with the Reserve Bank of India (RBI) to obtain the necessary regulatory permissions for both domestic and international payments and transfers on the same platform.
"What Revolut will offer is a unique one-stop shop to change the way people in India spend money," Chatterjee said on the sidelines of the new headquarters' launch in London.
"Without any major announcements, there are currently 350,000 people on the India wait list... It will be the first app that allows you to conduct both forex and domestic transactions. It will be the first company to offer a prepaid card loaded with benefits, potentially reaching tens of millions of users beyond the credit card population," she explained.
With its foreign exchange (forex) and domestic UPI licences in place earlier this year, the company now counts India as its largest talent hub, with over 3,500 employees and an initial investment of USD 45 million.
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The company declared at the launch of its London headquarters that it now had over 65 million customers globally and established a clear target of reaching 100 million customers by the middle of 2027.
By 2030, it will have expanded into over 30 new markets, including India, to support this.
UK Chancellor Rachel Reeves, who attended the event, stated, "We want to make it easier to bring talent to the UK, even though President Trump announced late last week that it will make it harder to bring talent to the US."
"We are working swiftly to make our high-potential individual visa and global talent routes more accessible and supportive of companies' efforts to bring talent here," said the minister, referencing the H1-B visa route clampdown in the US.
