Revolut aims to become global tech company beyond banking, CEO says

By Elvira Pollina

TURIN, Oct ‌9 (Reuters) - Revolut plans ​to ​move beyond financial services and develop a broader suite of technology products, Chief Executive Nik Storonsky said on ‌Friday, as Europe's most valuable startup pushes deeper into global ⁠markets.

Storonsky said Revolut had developed proprietary AI models trained on customer transaction data, ‌using techniques similar to those ‌underpinning large language models.

"With 30 to 40 million transactions taking place every day on Revolut, we have a unique dataset to build ​on," he said at the Wave by Vento tech forum in Turin, adding that his long-term goal was for Revolut to ⁠reach a scale comparable with the biggest US technology companies.

Revolut's rapid growth has drawn regulatory ​scrutiny. In 2025, Lithuania's central bank imposed a record €3.5 million fine over shortcomings in transaction-monitoring controls, though the ​company said the investigation found no confirmed ‌instances of money laundering and that it had strengthened its systems.

In September, Revolut accidentally sent customer data ⁠to hackers posing as government investigators. The company said its systems and customer funds were unaffected.

Founded a little over a decade ago, Revolut was valued ⁠at $115 billion in a secondary share sale this year, up from $45 billion in ​2024. It is now privately valued at more than the market capitalisation of Britain's Barclays or France's Societe Generale.

The company has announced several new licences in ‌recent weeks. It received preliminary approval for a national banking licence in the United States in September, ‌after winning licences in Britain and France earlier this year.

If Revolut were ⁠to list its shares, it ‌would favor a primary ​listing in the US, Storonsky told Bloomberg TV on Thursday.

(Reporting by Elvira Pollina and Giulio Piovaccari, editing by ‌Elaine Hardcastle)

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