Revolut to expand in Singapore with S$350m investment, targeting 300 local hires

SINGAPORE, 11 OCTOBER 2026 —

Revolut’s S$350 Million Singapore Push: Fintech Giant Cements Asian Hub with Permanent Base and 300-Job Workforce

Revolut, the London-headquartered fintech giant, has committed S$350 million to Singapore over the next five years and will open its first permanent office in the city-state by early 2027, marking a major expansion in Southeast Asia.

The move, announced on October 8, includes a 300-strong local workforce—nearly doubling its current team—and positions Singapore as a critical hub for its regional ambitions, as the company seeks to transition from a travel-focused app into an all-encompassing financial super-app.

The decision reflects Revolut’s strategy to deepen its roots in Asia, leveraging Singapore’s regulatory environment and talent pool to accelerate growth across the region. With domestic transaction volumes in Singapore surging over 30% year-on-year in 2025—now accounting for nearly half of all user activity—the company is betting on its tiered subscription model and embedded lifestyle perks to differentiate itself in a crowded fintech market.

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Revolut’s new 8,880-square-foot office at Collyer Quay Centre, set to open in early 2027, will feature the company’s name prominently on the building—a symbolic gesture to signal its long-term commitment to Singapore. Currently, Revolut operates from a WeWork co-working space at Funan, but the permanent base underscores its intent to integrate more deeply into the local economy.

The expansion follows Revolut’s S$147 billion (US$115 billion) valuation in September 2026, unchanged from its July valuation and up from US$75 billion (S$96 billion) in 2025, as the company reported a pretax profit of £1.7 billion (S$2.8 billion) for the year.

Raymond Ng, Revolut’s Singapore and Southeast Asia CEO, told The Business Times that the new office is a "very significant moment" for the company, reinforcing its commitment to becoming "all things money" for users rather than just a travel-focused platform.

"Having our own office and our own logo… signals to the local authorities and users that we are going to be deeply rooted in this market," Ng said. "From our Singapore base, we will drive our regional expansion efforts across Asia."

The company’s growth plans include hiring more Singaporeans to strengthen its 70% local workforce mix, aiming to create "local financial leaders" who can eventually form the next generation of senior management. In 2025 alone, Revolut nearly doubled its Singapore headcount, with plans to hire additional talent in engineering, product, data, and artificial intelligence to support its ambitions.

Pee Beng Kong, Executive Vice-President of Singapore’s Economic Development Board (EDB), welcomed the expansion, stating that Revolut’s "near-doubling of its team and expansion of product capabilities" will "strengthen our fintech ecosystem" and provide "valuable opportunities for local talent" to develop skills in a rapidly growing sector.

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Revolut’s strategy to compete in Singapore’s crowded digital banking and multi-currency wallet market revolves around its tiered subscription model, which bundles lifestyle and productivity perks directly into its financial services. In August 2026, the company launched its new top-tier subscription, Ultra, offering users S$10,000 in annualised lifestyle value through partnerships with brands like Mastercard, Spotify, and Uber.

"A lot of traditional financial institutions or fintechs focus on a single product, but we are building a financial super-app with lifestyle services embedded," Ng explained. "We are one of the few companies in Singapore offering tiered products from free plans to paid subscriptions."

Revolut’s product design is guided by three core principles: solving consumer problems, delivering convenience, and offering a great experience. This approach has driven significant growth in Singapore, where domestic transaction volumes grew over 30% year-on-year in 2025, now making up nearly half of all user activity. Peer-to-peer payment volumes rose by nearly 40%, while virtual card usage and wealth/trading customer numbers each grew by over 55%.

The company’s business segment has also seen explosive growth: its local business-customer base expanded fivefold in 2025, and between August 2025 and August 2026, corporate deposit balances and transfer volumes tripled, while merchant card-payment volumes surged tenfold.

Globally, Revolut serves over 80 million retail customers and 850,000 businesses, with operations in Singapore, Japan, India, the Philippines, Australia, and New Zealand. The Singapore expansion is part of a broader push to solidify its position as a regional fintech leader, with Ng emphasizing that the city-state’s regulatory clarity and talent pool make it an ideal launchpad for Asia.

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The move comes as Singapore continues to position itself as a regional fintech hub, attracting global players like Revolut, Stripe, and Grab. The government’s Fintech and Digital Banking Strategy aims to make Singapore a top-three global fintech centre by 2027, and Revolut’s investment aligns with this vision by boosting local employment, innovation, and financial inclusion.

For Malaysia, Revolut’s expansion could signal greater competition in digital banking, particularly as Malaysian regulators increasingly open doors to foreign fintechs. While Malaysia has its own digital banks (e.g., Maybank2u, CIMB Niaga, and Grab’s GrabPay), Revolut’s super-app model—combining banking, payments, and lifestyle services—could pressure traditional banks and local neobanks to enhance their offerings.

However, Malaysia’s regulatory landscape for foreign fintechs remains more restrictive than Singapore’s, with stricter capital requirements and licensing hurdles. Revolut has not yet announced plans for a Malaysian office, but its Singapore base could serve as a gateway for future regional expansion, including into Malaysia’s fast-growing digital payments market.

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Analysts note that Revolut’s success in Singapore will depend on its ability to balance innovation with local relevance. While its tiered subscription model and lifestyle integrations appeal to tech-savvy users, traditional banks and established digital banks like DBS, UOB, and GrabPay still dominate in corporate and SME banking.

"Revolut’s strength lies in its ability to bundle financial services with lifestyle perks, but in a market like Singapore, where trust in banks is high, it will need to prove its reliability in areas like security and customer support," said Lim Chong Hui, a fintech analyst at OCBC Securities.

Ng acknowledged the challenge but remained optimistic, citing Revolut’s rapid user growth and business adoption as proof of its traction. "We want to be their daily app, not just a travel app," he said. "Our goal is to be all things money—payments, savings, investments, and even lifestyle—all in one place."

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The next phase of Revolut’s Singapore expansion will focus on product innovation, workforce growth, and regional scaling. With 300 local hires planned by 2027 and S$350 million in investments, the company is positioning itself as a long-term player in Asia’s fintech landscape. For Singapore, the move reinforces its status as a regional innovation hub, while for Malaysia, it raises questions about how quickly foreign fintechs can adapt to local market dynamics.

As Revolut prepares to open its Collyer Quay office, its next steps will likely include deepening partnerships with Singaporean businesses, expanding its corporate banking offerings, and potentially exploring Malaysia as a future market. With 80 million global users and a valuation nearing US$115 billion, the fintech giant’s ambitions in Asia are now firmly on the radar of regulators, competitors, and consumers alike.

Related: Revolut