Revolut is no longer the neobank it started out as some 20 years ago, with just $100,000 in funding and a focus on fast, digital, and low-cost transactions. Today, it has more than 75 million customers worldwide, is expanding into mobile telephony, and is relocating its headquarters to Paris, while it has applied to obtain Greek IBANs.
This explosive growth, however, has not gone unnoticed by regulators. According to a report in the Financial Times, the European Central Bank (ECB) has imposed stricter restrictions on Revolut’s European subsidiary, temporarily “freezing” the launch of new products and demanding audits of its risk management structures—a clear message to major fintech firms expanding into the banking sector.
At the end of last month, it had over 2 million customers in Greece, while 2018 was considered a milestone year, when it announced its first million customers in the UK.
To this end, Revolut plans to open a branch in Greece and connect to the IRIS interbank system. An application for a license has already been submitted to the Bank of Greece. In Greece, Revolut gained over 400,000 new customers in 2025, and the country rose to 11th place globally in terms of individual users.
With the acquisition of the Greek IBAN, which will replace the Lithuanian one, it will be easier for Revolut to claim the role of a primary bank, as it will now be able to offer payroll services, standing orders, and more.
Operating within the same interbank system as other banks is not the only pressure on traditional credit institutions. Revolut is also expanding into mobile telephony, with a presence in more than 100 countries.
Revolut Mobile’s latest move is taking shape in the Netherlands, where it will have reached approximately 1.5 million customers by summer. Users purchase an eSIM package that runs on KPN’s 5G network, with speeds of up to 300 Mbps. In reality, Revolut acts as a commercial and digital channel through the app, while 1GLOBAL serves as the network provider.
Today, with more than 75 million customers worldwide, $6 billion in revenue by 2025, and record profits of $2.3 billion, it is establishing its headquarters in France, where 10% of its global customer base is located. According to Revolut’s management, this move represents a total investment of $1 billion in Europe. Its Paris headquarters is expected to open its doors in early 2027.
From $75 billion to $115 billion
In November 2025, a secondary market share sale valued Revolut at $75 billion. Now, according to Bloomberg, the company is considering a new secondary sale in 2026, targeting $115 billion, and the process could even begin within the month. This represents a 53% jump in just a few months.
The higher valuation helps the company prepare for a future IPO, most likely on the Nasdaq. However, the choice of market remains open, as London is also being considered.
Earlier this month, founder and CEO Nik Storonsky received the 2025 European Banker of the Year award from the Euro Finance Group. This is the first time this distinction has gone to the head of a neobank. He stated that the IPO is “about two years away,” meaning not before 2028.