London: UK-based financial technology company, Revolut, is preparing to enter the Indian market in 2025, following key achievements in the country this year. After securing in-principle approval from the Reserve Bank of India (RBI) earlier in 2024, the firm is now gearing up for its official launch.
Revolut, which serves over 45 million customers across 38 countries, including Singapore, Australia, and Brazil, sees India as its next major market. The company aims to provide seamless access to digital financial services through a single app tailored specifically for Indian consumers.
Revolut received a Category-II Authorised Money Exchange Dealer (AD II) license in 2022, followed by the RBI's approval to issue Prepaid Payment Instruments (PPI) earlier this year. This positions the company to offer both international and domestic payment solutions in India.
The company has been working on localizing its technology to comply with India’s data sovereignty regulations. Revolut is excited to bring its globally recognized app to India, adapted to the unique needs of the country's market.
Revolut's revenues nearly doubled in 2023, reaching USD 2.2 billion, up from USD 1.1 billion in 2022. Launched in 2015, the company’s personal and business banking services aim to provide users greater control over their finances and connect them seamlessly across the globe.
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