Revolut’s success story in Lithuania

What led Revolut to Lithuania

Founded in 2015, Revolut is redefining global banking as one of the world’s largest and most successful neobanks. Today, it serves over 60 million customers in more than 35 countries and was the most downloaded financial app in the UK and Europe in 2024. Valued at $45 billion, Revolut offers a range of services, including personal accounts with local IBANs, debit cards, currency exchange, eSIMs, and investment products.

What made Lithuania the right fit for Revolut

Revolut established its Vilnius branch in 2017 as part of its preparations for the UK leaving the EU. Lithuania stood out as a hub that could support Revolut’s ambitious growth plans, offering streamlined licensing procedures, a fintech-friendly regulatory environment, and a highly skilled, tech-savvy talent pool.

Following Brexit, Revolut’s Lithuanian operations became the core hub for its European business. Its full-service banking is powered by a licence issued by the Bank of Lithuania and approved by the European Central Bank. Starting with an EMI licence, Revolut upgraded to a full banking licence in 2021. Strong support from local regulators and Invest Lithuania played a key role in enabling a smooth and efficient licensing process.

And Lithuania’s support for growth goes beyond regulations. The country offers advanced digital infrastructure and a deep pool of tech talent, with 85% of young professionals fluent in English and 57% of 25 to 34-year-olds holding a college degree. This environment has enabled Revolut’s Vilnius team to grow to over 250 specialists, who now play a strategic role in the company’s EEA operations across compliance, engineering, product development, customer service and tech support.

Revolut’s impact in Lithuania

Revolut’s presence in Lithuania has helped to strengthen the country’s fintech industry. Its successful collaboration with the Bank of Lithuania, has served as an example to others looking for an EU base for their banking activities. Lithuania is currently home to 282 active fintech companies, and is number one in the EU for the number of licensed companies. Furthermore, the country’s fintech talent pool has more than quadrupled since Revolut’s arrival, rising from 1,900 in 2017 to over 7,800 today. Revolut has played a major role in this expansion, creating over 250 jobs while also acting as a mark of trust that other fintechs have followed.

What the future holds

Revolut’s ambitious aim is to reach 100 million customers and become one of the world’s largest financial institutions. This includes ambitious plans for further growth in Europe. While the company is establishing a deeper presence in Western Europe to provide more tailored services to individual markets, Lithuania will remain the central office for handling Revolut’s customers in all other parts of Europe.