Revolut offers banking services in France, Italy and Portugal

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Revolut has expanded its presence in continental Europe by launching banking services in three other countries, France, Italy and Portugal, the British fintech announced on Thursday.

The company will operate in all three countries with its Lithuanian banking license which it obtained in May 2020, under which it can offer services to members of the European Economic Area.

Commenting on the expansion, Revolut Bank’s Head of Operations, Adriana Restrepo, said: “We are really excited to launch the bank to our customers in France, Italy and Portugal, as they will benefit from data protection insurance. repositories on top of all the amazing products and features we offer today. And this is just the start of our plans for Revolut Bank!

International expansions

The latest expansion came after the British fintech company launched banking services in 10 other European countries earlier in March.

Meanwhile, Revolut operates with an Electronic Money Establishment License in the United Kingdom, which is its home territory. However, the challenger bank has applied for a banking license in the country and is expected to obtain it in early 2022.

Additionally, the fintech company is aggressively expanding into markets outside of Europe and pushing its services into major markets, such as the United States, Japan, and Singapore. The United States has proven to be one of the company’s main areas of focus outside of Europe as it continues to expand its offerings. Earlier this year, it rolled out corporate account services in all 50 U.S. states and launched commission-free stock trading services.

Additionally, Revolut raised $800 million in mid-2021 with a valuation of $33 billion, becoming one of Europe’s most valued fintech startups. But, the company is still bleeding cash as its operating loss for 2020 dipped to £200.6million, despite strong revenue gains.

Revolut has expanded its presence in continental Europe by launching banking services in three other countries, France, Italy and Portugal, the British fintech announced on Thursday.

The company will operate in all three countries with its Lithuanian banking license which it obtained in May 2020, under which it can offer services to members of the European Economic Area.

Commenting on the expansion, Revolut Bank’s Head of Operations, Adriana Restrepo, said: “We are really excited to launch the bank to our customers in France, Italy and Portugal, as they will benefit from data protection insurance. repositories on top of all the amazing products and features we offer today. And this is just the start of our plans for Revolut Bank!

International expansions

The latest expansion came after the British fintech company launched banking services in 10 other European countries earlier in March.

Meanwhile, Revolut operates with an Electronic Money Establishment License in the United Kingdom, which is its home territory. However, the challenger bank has applied for a banking license in the country and is expected to obtain it in early 2022.

Additionally, the fintech company is aggressively expanding into markets outside of Europe and pushing its services into major markets, such as the United States, Japan, and Singapore. The United States has proven to be one of the company’s main areas of focus outside of Europe as it continues to expand its offerings. Earlier this year, it rolled out corporate account services in all 50 U.S. states and launched commission-free stock trading services.

Additionally, Revolut raised $800 million in mid-2021 with a valuation of $33 billion, becoming one of Europe’s most valued fintech startups. But, the company is still bleeding cash as its operating loss for 2020 dipped to £200.6million, despite strong revenue gains.

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