Revolut is launching a major push into FTSE 250 corporate banking, directly challenging Britain’s largest traditional banks for mid-cap business clients. The fintech giant is offering employees £1,000 bonuses for successful business referrals as it targets companies significantly larger than its current sweet spot of five to fifty employees. Revolut Business currently serves 800,000 clients and generated £708 million revenue in 2025, up 53% year-over-year, with ambitions to reach one million global clients by 2027.
The timing follows a critical regulatory milestone: the Prudential Regulation Authority lifted restrictions on Revolut’s UK banking license in March, finally enabling the company to offer corporate lending and credit facilities. Division head James Gibson acknowledged the company is taking a cautious approach, hiring experienced banking staff and building credit underwriting models before expanding. No specific timeline was provided for the FTSE 250 rollout.
FXnCO Insight
Revolut’s entry into mid-cap corporate banking signals intensifying competition for traditional UK banks’ lucrative business clients, though execution risk remains high given limited lending infrastructure.
Source: Finance Magnates