Financial app Revolut decided to get UK banking licence
Licence combat: Revolut boss Francesca Carlesi mentioned the monetary app is ‘shifting in the correct course’ after lengthy delays
Revolut’s new UK boss mentioned it’s ‘determined’ to get a banking licence – greater than a yr after it insisted approval was ‘imminent’.
Francesca Carlesi, who joined in December, mentioned the monetary app is ‘moving in the right direction’ after lengthy delays. ‘We are determined to do the hard work to get there,’ Carlesi mentioned.
Her feedback come greater than a yr after Revolut mentioned approval of its licence was imminent, and three years after it utilized.
She steered the corporate might nonetheless find yourself itemizing within the City finally – backtracking on feedback made by the Revolut co-founder and chief govt Nik Storonsky final yr.
‘We know that companies are always better off to list where their biggest market is,’ she mentioned.
Revolut utilized in 2021 for a licence from the Bank of England, which might permit it to broaden within the UK. At the time it was value an estimated £26bn however in its newest valuation the agency, whose chairman is City grandee Martin Gilbert, was value £14bn.
It has 1,200 UK workers and 8m prospects.
