Ten years after its launch, digital bank Revolut has moved into new headquarters in London’s Canary Wharf, signalling its arrival among established financial institutions.

The company now serves 65 million customers worldwide and aims to reach 100 million by 2027.

Last year it reported a net profit of around CHF 900 million and is currently valued at about US$75 billion.

Switzerland has become a key market for the bank, with over one million customers already.

In an interview with Handelszeitung, David Tirado, Vice President Global Business and Profitability at Revolut, described the country as “one of our five key projects”, noting that Swiss users are among the most profitable in its portfolio due to strong demand for currency exchange and investment products.

Revolut only began marketing in Switzerland after receiving approval for a local representation last year, yet reached close to a million customers without advertising.

Tirado believes the bank could achieve similar penetration levels to Ireland, where it serves over 65% of the adult population.

Profitability in Switzerland has already been achieved.

“One of our core objectives is not to make losses in any country,”

Tirado said.

Investments have been made in a local office, Swiss account numbers through Postfinance, and new offerings such as money market funds.

The company is also seeing growing demand in the business segment, particularly from firms with international exposure.

The bank does not yet provide loans in Switzerland but plans to expand this offering.

Challenges remain, particularly with Swiss account numbers that are still issued under Postfinance, limiting their use as salary accounts.

Tirado said Revolut is working to localise the product and is reviewing whether to operate under a Swiss banking licence or a full local branch.

Revolut is also preparing to sponsor the Swiss Formula 1 team Sauber from 2026, which Tirado called “a strong commitment” to the market.

One of the products that Revolut cannot yet announce for Switzerland is its entry into the payment acceptance business.

This acquiring of payments for retail and hospitality is currently dominated in the country by the French company Worldline and has few competitors, such as Nexi and the digital provider SumUp.

Tests have already been completed, and the bank is awaiting regulatory approval before rollout.

Featured image credit: Edited by Fintech News Switzerland, based on image by wirestock via Freepik