Revolut, a British FinTech company with Ukrainian roots, is launching its payments platform in India, its first foray into one of the world's largest digital payments markets as part of its planned global expansion.
Revolut, a British FinTech company with Ukrainian roots, is launching its payments platform in India, its first foray into one of the world's largest digital payments markets as part of its planned global expansion.
Through a partnership with Unified Payments Interface and Visa, Revolut will allow users in India to make domestic and international payments. The service will initially launch for 350,000 customers on a waiting list later this year, before being opened up to everyone, Reuters reports .
To comply with Indian data sovereignty regulations, the FinTech company has invested over £40 million in localising its technology, the only market in which Revolut has made such an investment.
The company plans to attract 20 million customers by 2030.
Revolut has become one of the most valuable European FinTech companies founded in the last decade with an exclusively digital model. Last year alone, its valuation was $45 billion . The company is now considering a dual listing on the New York and London stock exchanges .
