The neobank Revolut continues its meteoric rise in France, now surpassing its traditional competitors in terms of downloads. Growth which illustrates the transformation of the French banking landscape, where fintech players are rapidly gaining ground to the detriment of traditional banks.
Record growth in France
Revolut announces that it has reached the milestone of 4 million users in France, with an impressive increase of 150,000 new customers each month. The British fintech is now positioned as the most downloaded banking application in France in 2024, ahead of established players like Boursobank and Crédit Agricole. For good reason, the British fintech application is number 1 in the finance category on the App Store.
This performance is based on a diversified marketing strategy, including partnerships with the NBA and influential collaborators like Léna Situations and Squeezie. The quality of the application and the regular deployment of new features also help to attract customers looking for simplicity and innovation.
Revolut aims to become a super-app for everyday finance. After having launched various investment products such as crypto or the traditional stock market, including hotel and flight reservations, we can imagine that the application will be enriched even more in the years to come.
Major ambitions and investments
France represents Revolut’s second priority market after the United Kingdom. The company is committed to investing at least 100 million euros in France, as announced during the Choose France summit last May.
Antoine Le Nel, head of the Growth department, affirms that the bank has “not yet reached its maximum acquisition speed”. Revolut also plans to enrich its offering in 2025 with the launch of the Livret A and real estate loans, while continuing to develop its current savings solutions, including its daily paid savings account launched in October. Antoine Le Nel continues:
Our investments are bearing fruit in France, but we have not yet reached our maximum acquisition speed. Revolut is now the fastest growing bank in the French market, with customer deposits on the rise. We will intensify our efforts, particularly in the development of new products. We have just launched our first savings product, we are working on real estate loans and will make new announcements in the coming months
With already 1,500 consumer loans granted monthly and a base of 45 million users worldwide, Revolut confirms its desire to become a major banking player, capable of competing with traditional establishments in all financial services.
