Revolut has formally applied for a banking licence in Finland, Finextra reports, the latest step in the UK-based fintech's push to deepen its presence across Europe, where it has been converting its footprint into full banking operations country by country.
The application would allow Revolut to establish a Finnish branch, according to Kuba Fast, chief executive of Revolut Bank EU, who said the move reflects the company's commitment to investing and growing locally, strengthening cooperation with Finnish authorities and bringing its services closer to customers. For Revolut's roughly 250,000 customers in Finland, an approved branch would mean local IBANs and access to domestic services such as paying bills and receiving wages directly.
The filing extends a string of regulatory milestones. Earlier in August, Revolut secured a full banking licence in France following a joint assessment by the Autorité de Contrôle Prudentiel et de Résolution and the European Central Bank. Over the past year the company has committed more than 1 billion euros to Western Europe, announced plans to hire over 600 staff across the region, and said it will establish its Western European headquarters in Paris in 2027. Beyond Europe, Revolut last month received an authorised deposit-taking institution licence from Australia's prudential regulator, clearing it to operate as a licensed bank there.
Founded in London in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut has grown into one of Europe's most valuable fintech companies. It has served European Union customers under a Lithuanian banking licence since 2018 and received a UK banking licence in 2024, and its market-by-market branch strategy — of which the Finnish application is the newest piece — is designed to turn app users across the continent into full local banking customers.