Revolut Seeks Swiss License, Plans CHF150m Investment

In two to three years, we would expect to surpass 40%, Revolut chief commercial officer David Tirado told Reuters after the firm said Wednesday it had applied to FINMA for a Swiss banking license. Revolut plans to invest more than 150 million Swiss francs over five years. It already counts about 1.3 million Swiss customers, around 24% penetration, after adding roughly 240,000 in fiscal 2025. Tirado said the step reflects the importance Revolut gives the market. Approval would allow local IBANs, salary accounts, Swiss deposit protection and merchant-acquiring, with Pillar 3a and TWINT under review. The Swiss unit would be its fourth standalone European bank after Britain, Lithuania and France. Existing customers would move to the Swiss entity if approved. Revolut employs about 30 people in Zurich, serves over 80 million customers globally, and recently received preliminary OCC approval for a U.S. national bank license. FINMA is reviewing the application. What is contested: None. The record shows no dispute over the application, investment figure or customer counts. Additional context, per Keystone-SDA: Revolut leads Swiss neobanks ahead of Yuh (about 400,000 customers) and Neon (about 250,000).