Photo credit: Revolut
UK-headquartered Revolut is committing nearly S$350 million (US$274 million) to Singapore in the next five years to drive expansion and product development, as well as to make local hires in engineering, data science, and senior management.
The fintech firm is also planning in early 2027 to open a 8,880-square-foot office at Collyer Quay Center in the city-state’s central business district.
The company has been net profitable in the last two years in Singapore, where it began operating in 2019.
Raymond Ng, Revolut’s Singapore and Southeast Asia CEO, told Tech in Asia that he expects the firm to sustain its growth and performance, with profitability “a key focus” as it scales.
Revolut, which counts Singapore’s EDBI among its backers, currently employs 170 employees in the city-state and is looking to increase its headcount to over 300 in the next three years.
Globally, Revolut serves 850,000 businesses and 80 million retail customers. However, the firm doesn’t provide a breakdown of its user base in Singapore or across Asia Pacific. It aims to have 100 million retail clients by mid-2027.
Ng added that the company is “actively evaluating expansion into several markets across the region.” Aside from Singapore, Revolut operates a tech hub in the Philippines, where it plans to set up a wholly owned local unit to provide digital banking and electronic money issuer services.
An everyday app
Revolut’s app offers spending, currency exchange, and investment features. In September, a secondary share sale reportedly valued the company at US$115 billion, up from US$75 billion in 2025.
While Revolut’s initial use case focused on travel spend and currency exchange, it has since expanded into more everyday features like investments.
In Singapore, domestic transactions now make up nearly half of total transactions and rose by more than 30% between 2024 and 2025.
Revolut’s clientele also went up by almost 55% in 2025, and more of them are using the app’s wealth and trading features.
Rapid growth for B2B
Revolut offers multicurrency business accounts and global spending features to SMEs and enterprises at interbank rates and no hidden fees.
Its B2B unit in Singapore has grown “very fast” since launching two years ago, Ng said.
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