Revolut, Europe’s Fintech Giant, Sets Sights on Moroccan Market Expansion

The Revolut group, the first European digital banking institution, is interested in the Moroccan market. It is working to set up a local team with a view to filing an application for approval with Bank Al-Maghrib (BAM), the Moroccan central bank, reports the specialized website Asharq. "Revolut continues to examine development prospects in new territories, in line with [its] aim of making [its] application accessible to a global clientele," said a company spokesperson in an email to the website’s editorial team. He will specify: "Morocco is the subject of a careful evaluation, which we consider promising. This market appears to us to be able to accommodate a differentiated offer with high added value. However, we are still only at the beginning of the process."

Recently, Amine Berrada, former Director of Operations for Uber in Southeast Europe, has been entrusted with the responsibility of Revolut’s strategy and activities in Morocco. "Revolut aspires to build the first universal financial super-app. I am honored to contribute to its launch in Morocco and the development of innovative banking services for millions of citizens," he wrote on the professional platform LinkedIn.

Founded in June 2014 by Nikolay Storonsky and Vlad Yatsenko, Revolut is a British fintech company based in London. It offers several financial and banking services via a mobile application: debit cards, current accounts, investment products, currency exchange and foreign payments, insurance, consumer credit and savings products, etc. With a portfolio of sixty million customers spread across more than 35 countries, Revolut is the most valued Fintech in Europe.

In addition to the United Kingdom, the Revolut group is also present in Australia, Japan, India, and several Latin American countries. Last year, the volume of transactions it processed in 2024 exceeded the threshold of $1 trillion. The group was valued at around $45 billion in August 2024.