Revolut Invests $1 Billion to Expand Operations in Latin America
Brazil is the core of the British fintech's strategy to capture one in four new global customers by 2027.
British fintech Revolut has announced a $1 billion investment to accelerate its presence in Latin America. The plan positions Brazil as the primary market in the region, alongside Mexico, Colombia, Peru, and Argentina.
The funds will not be limited to credit offerings. The company intends to build teams and expand its range of financial services in each country. Brazil already hosts the company's largest operation in the region and shows significant growth in its Ultra premium user base.
Revolut's strategy aims for Latin America to account for 25% of new global customer acquisitions by 2027. The company currently serves 80 million people worldwide.
The experience in Mexico, where the fintech reached 1 million customers in eight months, will serve as a model. The company plans to enter new markets with a full portfolio of products from the very start of operations.
Spotted an error? Write to suporte@criptoico.com.br.
