Revolut plans €1bn French investment, to ask for banking licence

(Sharecast News) - UK fintech company Revolut on Monday said it would invest €1bn to expand its operations in France and apply for a banking licence in the country. Revolut, which is an app-based provider of financial services, said it would open a new office in Paris for its operations in Western Europe and create at least 200 new jobs across the country as part of the three year investment. Revolut waited three years to obtain a UK banking licence.

The announcement was made during an summit hosted by French President Emmanuel Macron to attract new investment.

Reporting by Frank Prenesti for Sharecast.com