Revolut eyes Switzerland in continued global expansion

UK fintech Revolut has applied for a Swiss banking license and plans to invest 150 million francs ($182 million) in Switzerland over five years. The company already has 1.3 million customers in the country, served by Lithuania-licensed Revolut Bank UAB.

• Investment in Switzerland to be 150 million francs ($182 million) over five years
• License to provide Swiss IBANs, salary accounts and deposit protection
• Revolut already has over 1.3 million customers in Switzerland
• In a year, company applied for licenses in Colombia, US, France, Peru, Australia and Mexico