Summary
Revolut plans to invest nearly S$350 million in Singapore over five years, covering product development, business growth, and workforce expansion.
The fintech firm aims to increase its Singapore headcount from nearly 170 to more than 300 within three years.
Its new 8,880 sq ft office at Collyer Quay Centre is scheduled to open in early 2027.
SINGAPORE: Revolut plans to invest nearly S$350 million in Singapore over five years and grow its local workforce beyond 300 employees.
The London-headquartered financial technology company announced the expansion on Oct 8 alongside plans for its first permanent Singapore office. The new office will occupy 8,880 sq ft on the ninth floor of Collyer Quay Centre. It is expected to open in early 2027, replacing the company’s current arrangement at WeWork’s Funan location.
In an interview with The Business Times, Revolut Singapore and South-east Asia chief executive Raymond Ng said the office would signal the company’s long-term commitment to Singapore. He also described the city as a base for its wider Asian expansion, Vulcan Post reported (Oct 8).
More than 300 employees planned within three years
Revolut entered Singapore in 2019 and now employs nearly 170 people locally. It plans to more than double that headcount over the next three years, with new roles in engineering, product development, data and artificial intelligence.
The company nearly doubled its local workforce in 2025. It also intends to maintain its current workforce mix, with 70% Singaporeans and other local staff and 30% foreign employees.
Pee Beng Kong, executive vice-president of the Singapore Economic Development Board, said the expansion could strengthen the local fintech sector and give Singapore talent more chances to build skills and experience.
The planned investment will cover workforce growth, product innovation and business development. It also comes as financial technology firms compete for customers in Singapore’s digital banking and payment markets.
Revolut wants to become an everyday money app
Revolut began with services popular among travellers, including multi-currency payments. It now wants customers to use its platform for daily financial needs, putting it in competition with digital banks, payment apps and other financial service providers.
Ng said Revolut differentiates itself through subscription plans that combine financial tools with lifestyle benefits. In August 2026, the company launched its Ultra subscription tier, which it says offers S$10,000 in annualised lifestyle value through partner benefits.
The company’s local activity also points to demand beyond overseas spending. Domestic transaction volumes grew by more than 30% in 2025, while peer-to-peer payment volumes rose by almost 40%. Virtual card usage and the number of wealth and trading customers each increased by more than 55%.
Its business services expanded too. Revolut’s Singapore business-customer base grew fivefold in 2025. From August 2025 to August 2026, corporate deposit and transfer volumes tripled, while merchant card payment volumes increased tenfold.
Singapore becomes a base for regional growth
Revolut’s expansion follows a September 2026 secondary share sale that reportedly valued the company at US$115 billion, or about S$147 billion. Its reported pretax profit for 2025 was £1.7 billion, equivalent to about S$2.8 billion.
The company now serves more than 80 million retail customers and 850,000 businesses worldwide, with operations across several Asia-Pacific markets.
More office space and jobs will strengthen Revolut’s local presence, but long-term success depends on whether its services stay useful as competitors improve their own offerings.
For customers, more choice is welcome; for the company, keeping people engaged beyond payments will be the harder test.