Revolut applies for a Swiss banking licence and commits over CHF 150M of investment
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What happened
Revolut said on September 16, 2026 that it had applied to the Swiss Financial Market Supervisory Authority, FINMA, for a local banking licence. The company said the application was under review and that its outcome was open. Revolut said it had more than 1.3 million customers in Switzerland and more than 80 million worldwide. Those Swiss customers were served by Revolut Bank UAB, which was licensed in Lithuania and had a representative office in Switzerland but did not hold a Swiss banking licence.
Revolut also said it plans to invest more than CHF 150 million in the Swiss market over the next five years, to support new products, local jobs and appointments to its executive board and senior leadership team. The company said that if the licence were granted, it could offer Swiss IBANs, salary accounts, eBill, merchant acquiring and access to the Swiss deposit guarantee scheme, with Pillar 3a and TWINT under consideration, and existing customers would move to the Swiss banking entity. These details came from Revolut's own announcement. The company gave no decision date, and no statement from FINMA was among the source material.
Key points
- Revolut applied to FINMA for a Swiss banking licence; it announced the application on September 16, 2026 and said it was under review.1
- Revolut said it plans to invest more than CHF 150 million in Switzerland over the next five years.1
- It reported more than 1.3 million customers in Switzerland, served by Lithuania-licensed Revolut Bank UAB.1
- Revolut called the outcome of the licensing procedure open; no decision date was given.1
- If approved, existing Swiss customers would move to a Swiss banking entity, per the company.1
Why it matters
The licence is a pending application, so the Swiss banking structure is a stated plan and not yet a regulatory fact in the picture of the business.
Revolut's own figure of more than 1.3 million Swiss customers shows the market already contributes users, with a bank licence as the next step in how they are served.
The commitment of more than CHF 150 million over five years is the company's own figure in Swiss francs, giving an indication of the scale of local build-out Revolut describes.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Apr 26, 2018 | $1.7B | $250M | DST Global |
| Series D | Feb 24, 2020 | $5.5B | $500M | TCV |
| Series D extension | Jul 24, 2020 | $5.5B | $80M | Unknown |
| Series E | Jul 15, 2021 | $33B | $800M | SoftBank Vision Fund 2 and Tiger Global Management |
Updated
Fact-check
- Revolut applied to FINMA for a Swiss banking licence, announced on September 16, 2026.Not read by the checker: the source page returned HTTP 403. Rests on the writer's read: [1] Revolut: its release dated 16 September 2026 says it has applied to FINMA and the application is under review.Partly verified
- Revolut plans to invest more than CHF 150 million in Switzerland over the next five years.Not read by the checker: the source page returned HTTP 403. Rests on the writer's read: [1] Revolut: the release states the investment of more than CHF 150 million over the next five years.Partly verified
- Revolut has more than 1.3 million customers in Switzerland and more than 80 million worldwide.Not read by the checker: the source page returned HTTP 403. Rests on the writer's read: [1] Revolut: the release gives both customer figures as the company's own.Partly verified
- Swiss customers are served by Revolut Bank UAB, licensed in Lithuania, which does not hold a Swiss banking licence.Not read by the checker: the source page returned HTTP 403. Rests on the writer's read: [1] Revolut: the release names Revolut Bank UAB and its Lithuanian licence and Swiss representative office.Partly verified
- The outcome of the licensing procedure is open and no decision has been reached.Not read by the checker: the source page returned HTTP 403. Rests on the writer's read: [1] Revolut: the release says the procedure is pending and its outcome is open.Partly verified
Sources
- [1]Revolut (opens in a new tab)Revolut applies for Swiss banking licence and commits CHF 150 million investmentThe licensing procedure is currently pending, and its outcome is open.
