Revolut’s new UK boss said it is ‘determined’ to get a banking licence – more than a year after it insisted approval was ‘imminent’.
Francesca Carlesi, who joined in December, said the financial app is ‘moving in the right direction’ after long delays. ‘We are determined to do the hard work to get there,’ Carlesi said.
Her comments come more than a year after Revolut said approval of its licence was imminent, and three years after it applied.
She suggested the company could still end up listing in the City eventually – backtracking on comments made by the Revolut co-founder and chief executive Nik Storonsky last year.
‘We know that companies are always better off to list where their biggest market is,’ she said.
Revolut applied in 2021 for a licence from the Bank of England, which would allow it to expand in the UK. At the time it was worth an estimated £26bn but in its latest valuation the firm, whose chairman is City grandee Martin Gilbert, was worth £14bn.
It has 1,200 UK staff and 8m customers.
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