Revolut has to fear for its banking license in Great Britain.
(Photo: obs)
London The British fintech company Revolut has to fear for its banking license in Great Britain. According to reports in the British media, the financial service provider, which was founded in 2015, is in crisis talks with the British financial regulator, the government in London and its major shareholder Softbank. The question should also be asked whether Revolut could expand its presence in the EU if it does not get the long-awaited banking license in Great Britain.
The company suffered a setback back in March when accounting firm BDO refused to fully certify reported revenue of £477m (about €540m) for FY2021. CFO Mikko Salovaara and British regional head James Radford surprisingly recently left the company.