Revolut seeks Finnish licence amid EU expansion
Revolut has filed an application to open a banking unit in Finland, marking the latest step in its push across the continent.
Application details and leadership comments
The filing was confirmed by Kuba Fast, the newly appointed chief executive of Revolut Bank UAB, in a LinkedIn post. The move follows a similar approval for a Greek facility that was announced two weeks earlier.
According to a post on X by early investor Max Karpis, the Finnish operation will be limited to back‑office functions and will not host any physical branches. That means customers will continue to interact with the service through the app, while the local entity handles compliance and settlement.
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Since September, former Nordea and Mastercard executive Tuomas Autero has overseen the Finnish effort. The market currently hosts roughly 250,000 users of the platform.
Potential impact for local customers
If the licence is granted, Finnish account holders will receive domestic account numbers. Fast described the change as “making everyday banking even more seamless, from salary payments to bill management.”
Compared with Revolut’s earlier expansion into Greece, the Finnish case appears more cautious. In Greece, the firm plans to issue Greek IBANs and roll out services over the next months. In Finland, the emphasis on an operational hub without storefronts suggests a test of regulatory comfort before a full‑service launch.
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Over the past year, the company has secured a full banking licence in France, paving the way for a staged rollout into Germany, Ireland, Italy, Portugal and Spain. The French approval was funded by a declared €1 billion earmarked for regional growth.
Revolut’s expansion strategy has been supported by a series of leadership appointments. Vasilis Ameranis, who became general manager for Greece in June, announced the Greek licence on LinkedIn, noting that the unit “is expected to become operational over the coming months.”
The Finnish request was submitted to Finland’s financial regulator shortly after the Greek approval was made public.
