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)