An IMGW News Report
Revolut, the UK’s largest fintech, is exploring the acquisition of an American bank to fast-track its entry into the world’s biggest banking market, in a bid to expand its lending operations.
The Financial Times revealed in an exclusive report that Revolut is considering buying a nationally chartered US lender. According to people familiar with the matter, such a move would allow the company to secure a banking licence far quicker than applying through the traditional route.
Targets would likely include smaller banks already holding national charters, enabling an almost immediate foothold in the market.
The United States remains a key strategic prize for European fintechs, offering access to vast customer pools and deposit bases at a time when growth in core markets has slowed.
Revolut, which counts 60 million customers worldwide, already holds banking licences in Lithuania and Mexico. In the UK, however, it remains restricted by regulators despite conditional approval of its licence last year, with lending capped under “mobilisation” rules while compliance systems are strengthened.
The FT report also noted that Revolut is pursuing other avenues, including a direct application for a US charter, and is in talks to raise $1bn, valuing the company at around $65bn. Part of these funds would support global expansion.
Revolut recently acquired Cetelem Bank in Argentina and has considered similar deals in the Middle East.
Founded in 2015, the London-based fintech has positioned itself among the world’s most ambitious digital banks. The company declined to comment on the latest developments.
