Key Takeaways
- Revolut will invest at least $1 billion into Latam markets to fuel its 2027 user growth and expansion plans.
- The firm is securing banking licenses in Mexico and Peru and launching in Colombia to capture market share.
- Revolut expects Latam to drive 25% of its new 2027 users, opting to build in-house tech rather than acquire.
Revolut Announces Significant Expansion Into Latam Markets
As traditional markets are giving signs of being crowded with fintech and crypto alternatives, companies are looking to Latam to expand their platforms and acquire new customers.
Revolut, the British fintech and crypto firm, is doing just that, targeting Latam as a pivotal region for its growth plans from 2027 going forward. With Brazil cemented as its largest growth market, Revolut believes one in every 4 customers acquired in 2027 will come from Latam, and it wants to be sure that the infrastructure and services are available to retain them.
To this end, the company has announced that it is ready to put at least $1 billion into Latam markets, targeting countries like Brazil, Mexico, Colombia, Peru, and Argentina, where the company already operates or is on the verge of starting operations.
Carlos Urrutia, general manager of international expansion at Revolut, told investors that the company is ready to re-examine its results in Latam and commit more resources to the region. “This is not the maximum value. It’s a number we’re committed to for now, and that could grow as we see that markets need more,” he declared.
“We have achieved this commitment of US$1 billion as a minimum investment. If we see, quarter after quarter, opportunities worth accelerating, we are a healthy company, with a solid balance sheet,” said Glauber Mota, CEO of Revolut in Brazil.
The Nations in Focus
Revolut has been making inroads in Peru, where it is in the final steps of receiving a full banking license, and Mexico, where it also recently received a similar license from local regulators. It is also on the verge of launching a local operation in Colombia, where it is currently building a waitlist for its launch.
The company explained that to select Latam as the focus of its expansion plans, it evaluated four key aspects, including the openness of regulators, a young and large population, the openness towards digital services, and ties to markets where the company already operates. Urrutia believes Latam combines them all.
Outside of these key five nations, Chile is another country that is in the sights of Revolut: “We cannot give deadlines for Chile. It’s more a question of when than if,” said Urrutia, who also stressed that there would be no acquisitions as the company seeks to develop all in-house to avoid integrating technologies outside the company’s standards.
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