Revolut announces 400 new jobs as neobank establishes Paris HQ
The new roles will be created across France, Spain, Ireland, Germany, and Portugal, and will encompass risk management, compliance and other key functions.
At least 200 of the roles will be based in France, with the aim of solidifying France as a key operational hub, with more than 1,500 dedicated staff by 2029.
Founded in 2015 in London, Revolut began as a fintech offering easy money transfers, currency exchange and a no-fee travel card. The company now has a banking licence in the UK and more than 60 million customers worldwide.
As part of their growth plan in Western Europe, Revolut has said it is looking to submit an application for a banking licence in France to further strengthen the position of its new French headquarters.
Building a Western Europe hub
Following the recent appointment of Béatrice Cossa-Dumurgier as Western Europe CEO, Revolut is launching a major recruitment drive across the region. This comes in addition to its Lithuanian headquarters, which will continue to serve other European markets.
Once the French HQ is fully established, the neobank plans to transition some 600 of its existing staff in customer support, credit and product roles.
The scale-up will come in stages, with 80 new hires expected in the first year and all 400 in place by 2029. By the end of the decade 1,500 employees will be dedicated to Revolut's French banking entity.
Revolut is set to invest around €1 billion in France over the next three years. This commitment shows the company's confidence in not only the regulatory landscape and business environment in Europe but also Paris' status as a rising financial centre and its own future as a fully licensed bank.
Speaking on the expansion plans, Cossa-Dumurgier said: 'Western Europe is home to a massive pool of talent, and we intend to make the most of it — attracting top professionals eager to shape the future of banking and build the next generation of financial services.'
Since its inception, the company has already grown to a staff of 13,000 globally, and its career appeal is only increasing, with over 1.6 million people applying to join Revolut's workforce in 2024.
Revolut founder and CEO Nik Storonsky recently reaffirmed his commitment to a fully flexible working model, allowing employees to choose between working remotely or from the office.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Euronews
32 minutes ago
- Euronews
Barroso: EU shouldn't be a ‘geopolitical teenager' faced with China
The European Union needs to 'do more and faster' to project its influence against an increasingly dominant China, former European Commission President José Manuel Barroso has told Euronews. 'Europe should not be a kind of geopolitical teenager. We have to become adults responsible for our own future,' Barroso, who helmed the EU executive between 2004 and 2014, said in an interview ahead of the EU-China summit taking place on Thursday in Beijing. 'Instead of criticising others, what we have to do is our own homework,' he went on, adding that 'it's not because of China or the US' that the EU doesn't yet have a fully-integrated single market for services or capital, or a joint European defence. 'I insist, this should be a wake-up call for Europe to do its own homework, instead of putting blame on others.' Thursday's EU-China summit had promised to be an opportunity to reinvigorate EU-China ties: it falls on the fiftieth anniversary of bilateral relations between Brussels and Beijing and comes as Trump's unpredictable trade policies throw world trading relations into disarray. But hopes of a reset have been dashed by simmering tensions over a range of issues, chief among them China's state-subsidised overproduction, which risks inflating an already-devastating EU trade deficit of €305.8 billion per year with China. Trade disputes have also escalated after the EU imposed tariffs on China-made electric vehicles (EVs) last year, citing Beijing's unfair use of subsidies that push EU competitors out of the market. It triggered a tit-for-tat trade conflict, with Beijing launching anti-subsidy probes into EU-made brandy, pork and dairy products. Asked whether there was still hope of the summit yielding a breakthrough, Barroso was clear: 'Frankly, I don't see that happening. I see a lot of tension.' 'I don't expect this summit to be the forward-looking, commemorative moment that in principle we would like to see.' During the decade Barroso was head of the EU executive, China consolidated its position as the world's second-largest economy. His Commission refrained from granting China so-called "market economy status" in a bid to shield the 27-country bloc from dumping. Talks for an investment deal known as the Comprehensive Agreement on Investment (CAI) were also launched under Barroso, but the ratification of the deal later stalled in the European Parliament. Asked whether he felt more could have been done then to foresee how China could balloon its trade surplus with global partners and develop a near-monopoly on critical supply chains, Barroso defended his Commission: 'I don't think it's very useful to judge the political decisions of a certain moment in the light of what happened afterwards. Because a political leader decides on the basis of the information he has at that moment.' 'The question is, were those the right decisions according to the information available at that moment? And yes, I believe they were.' Also stalling any prospects of a detente between both sides is China's position on Russia's war in Ukraine. Brussels accuses Beijing of being a 'key enabler' of the war through its 'no-limits' trade and economic partnership with Moscow. The EU executive estimates that China supplies 80% of the dual-used goods that end up in Russian weapons. 'Traditionally, China has been always saying they are for multilateral order, that they are for the respect of international law,' Barroso explained. 'But now, in a case that is the most evident case of the last decades, of a clear violation of international law (..) Russia, invading its neighbour Ukraine, taking parts of its territory, China is not able to say just a single word of criticism to Russia.' 'This is, of course, very difficult for the Europeans to accept.' Watch the full interview live on Europe Today at 8.00 CET on July 24.
Euronews
32 minutes ago
- Euronews
Energy, water, and waste: How much do basic utilities cost in Europe?
How much do you pay for utility bills? Do you think it's more than in other European cities? According to Deutsche Bank's Mapping the World's Prices report, which covers 67 cities worldwide including 28 in Europe, basic utility costs in 2025 differ significantly across the continent. Monthly basic utilities include electricity, heating, cooling, water and garbage for an 85m2 apartment. Europe clearly dominates the global list, with almost all of the top 20 most expensive cities for basic utilities located in the continent. Only two non-European cities make the top 20. So, which cities have the highest and lowest bills? How does your city compare? And what about major cities outside Europe? Germany is the most expensive country Overall, monthly basic utility costs range from €24 in Cairo to €370 in Munich. In Europe, the cheapest city is Istanbul, where utilities cost just €68. Within the EU, Helsinki is the most affordable at €115. It's not just Munich at the top. Two other German cities also rank third and fourth. This makes Germany the most expensive country for basic utilities. On average, residents pay €339 in Frankfurt and €333 in Berlin. Edinburgh ranks second in basic utility costs Edinburgh ranks second among the most expensive European cities for utility bills. Residents pay €346 on average. Other UK cities are also costly. London ranks seventh and Birmingham eleventh overall. Basic utilities in London cost €295, and €270 in Birmingham. The top 10 most expensive cities also include €327 in Warsaw, €304 in Vienna, €286 in Prague, €275 in Amsterdam, and €271 in Oslo. Tel Aviv (12th, €245) and Hong Kong (19th, €211) are the only two non-European cities in the top 20. Where are the lowest utility bills? After Istanbul (€68) and Helsinki (€115), the lowest utility costs are found in Budapest and Lisbon (both €135), followed by Barcelona (€170) and Madrid (€180). Average basic utility bills are also under €200 in Athens (€197) and Copenhagen (€182). In Italy, utility costs are right around the €200 mark: €200 in Milan and €202 in Rome. In general, utility costs tend to be higher in Northern and Western Europe, while they are lower in Central, Eastern, and parts of Southern Europe. San Francisco is the most expensive US city on the list, with utility costs at €202. In New York, the average is €181, though several other cities fall in between. In Tokyo, utility costs average €151. In Toronto, they're €107, and in Beijing, just €52. How much have utility costs risen over the past five years? Over the past five years, from 2020 to 2025, monthly basic utility costs in euros have risen significantly in many European cities. Stockholm tops the list with a 176% increase, followed by another Nordic city, Oslo, at 133%. For cities where the currency is not the euro, looking at changes in national currencies may give a clearer picture, as part of the increase is due to exchange rate fluctuations. The increase also exceeds 90% in several cities: Warsaw (112%), Brussels (97%), Birmingham (96%), and Edinburgh (93%). Monthly basic utility costs have risen by around 50% in German cities, where residents already pay the highest bills in Europe. In Europe, Copenhagen (-7%) and Budapest (-6%) are the only two cities where utility costs declined during this period, in euro terms. Which cities spend the most on utilities as a share of salary? The portion of average net salaries spent on basic utilities varies widely across Europe. It ranges from just 3.2% in Geneva and 3.3% in Zurich to 18.8% in Athens, closely followed by Warsaw at 17.6%. Across all cities, Montreal (2.6%) has the lowest share of net salary spent on utilities, while Manila (25.9%) has the highest, with more than a quarter of income going to basic utilities. In Europe, this is around 9–10% in several countries. These shares are influenced not only by utility costs but also by income levels. In Europe, in 2025, Swiss cities have the highest average monthly net salaries: €7,307 in Geneva, closely followed by Zurich (€7,127). Istanbul has the lowest average salary at €855, while within the EU, Athens ranks lowest at €1,044. People in the Northern and Western European cities are well-paid. The net salaries are above €4,000 in Luxembourg, Amsterdam, Copenhagen and Frankfurt according to the report. Euronews Business articles on electricity and gas prices across Europe comprehensively explain why energy prices differ so much. Differences in energy sources, pricing strategies, subsidies, and support measures all influence how utility prices are formed. The Russian invasion of Ukraine has also had a significant impact on energy prices across Europe.
Euronews
3 hours ago
- Euronews
EU and China hold trade talks with expectations low
European Union leaders are meeting with top Chinese officials in Beijing on Thursday for a one-day summit aimed at addressing trade imbalances, climate cooperation and global conflicts, though expectations for concrete outcomes are low. European Commission President Ursula von der Leyen and European Council President António Costa will meet with Chinese President Xi Jinping and Premier Li Qiang to mark 50 years of relations between Brussels and Beijing. Originally planned as a two-day event, the summit was scaled back amid economic uncertainty, wars in the Middle East and Ukraine and the looming threat of renewed US tariffs. EU officials were expected to raise concerns over China's support for Russia amid its ongoing, full-scale invasion of Ukraine, persistent cyberattacks and espionage, trade imbalances, Beijing's near-monopoly in rare earth minerals and human rights issues in Xjinjiang, Tibet and Hong Kong. The EU is also navigating a balancing act with Washington as it braces for a possible trade war with the US. 'Europe is being very careful not to antagonise President Trump even further by looking maybe too close to China, so all of that doesn't make this summit easier,' said Fabian Zuleeg, chief economist of the European Policy Centre. 'It will be very hard to achieve something concrete.' There is also little likelihood of a major breakthrough amid China's hardening stance on the EU, despite a few olive branches. This includes the suspension of sanctions on European lawmakers who criticised Beijing's human rights abuses in Xjinjiang, a region in north-western China home to the Uyghurs. 'China has come away emboldened from its trade confrontation with Trump. That has reduced its appetite for making concessions to the EU,' Zuleeg said. 'Now that Trump has backed down, China sees less of a need to wood Europe.' China is the EU's second-largest trading partner after the US, with around 30% of global trade flowing between them. While both sides hope to use their economic ties to help stabilise the global economy, fundamental divisions remain.
