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Revolut Secures Colombian Banking License, Eyes 2027 Launch
15 Sep
Summary
- Revolut has obtained a banking license in Colombia from authorities.
- The fintech plans to launch operations in the South American country in 2027.
- An additional $62 million investment will bolster digital banking infrastructure.
British fintech company Revolut has announced the attainment of a banking license in Colombia. This marks the final regulatory approval needed for the company to begin its operations in the South American country.
Revolut is targeting a launch in Colombia in 2027. To support its new venture, the company plans a significant investment of an additional $62 million. This capital injection is designated for enhancing digital banking infrastructure and advancing financial technology within Colombia, effectively doubling its initial investment.
The company has a substantial global customer base exceeding 80 million. Within Colombia, nearly 200,000 individuals are reportedly on a waiting list to access Revolut's services, indicating strong local demand.
