Revolut bets nearly SG$350m to Singapore as business customer base grows fivefold

Revolut is committing nearly SG$350 million to Singapore over the next five years as it expands its business offering, builds capabilities in areas including AI and data, and grows its local workforce to more than 300 employees.

The investment comes as the fintech sees rapid growth in its business segment, with its Singapore business customer base growing fivefold in 2025. From August 2025 to August 2026, deposit balances and transfer volumes each tripled, while card payment volumes increased tenfold.

Revolut currently has close to 170 staff in Singapore and nearly doubled its local workforce in 2025, with headcount increasing by more than 95% year-on-year. It is recruiting local and international talent across engineering, product, data and AI, with the capabilities built in Singapore supporting its wider growth across Southeast Asia.

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In response to MARKETING-INTERACTIVE’s questions, Revolut said it is not currently recruiting specifically for marketing roles as part of the expansion.

The company has signed a five-year lease for an 8,880 sq ft office on the ninth floor of Collyer Quay Centre. The new office is scheduled to open in early 2027 and will support Revolut’s plans to grow its Singapore team to more than 300 employees over the next three years.

The move comes as Revolut marks seven years since launching in Singapore and follows its second consecutive year of net profitability in the market in 2025.

Since launching locally in 2019, Revolut has expanded beyond its original travel and foreign exchange proposition into a broader financial platform. Its retail business saw domestic transaction volumes rise by more than 30% year-on-year in 2025, with domestic transactions accounting for nearly half of total activity. Peer-to-peer payment volumes increased by close to 40%, while the number and volume of virtual card payments each grew by more than 55%.

The company has also expanded its consumer proposition with Ultra, enhanced paid plans featuring partner benefits from brands including foodpanda and OpenAI, and expanded multi-currency capabilities including CNY and VND.

On the business side, Revolut has added Flexible Cash Funds and merchant acquiring solutions, bringing account-to-account, online and in-person payments together within its business offering.

Globally, Revolut Business has surpassed US$1 billion in annualised revenue. The company said Singapore will continue to serve as a base for its Southeast Asian expansion as it works towards its global goal of reaching 100 million customers.

Raymond Ng, chief executive officer, Singapore and Southeast Asia, Revolut, said: “Seven years after launching in Singapore, we’re proud to establish a new home in the heart of the city’s financial district. Our nearly S$350 million commitment reflects how far we’ve come and our confidence in the opportunities ahead.

“Singapore is a key market and an important base for our Southeast Asia ambitions. We’ll continue investing in our people, products and technology to drive growth, strengthen our capabilities and bring more innovation to customers across the region. As we work towards reaching 100 million customers globally, Singapore will play an increasingly important role in our growth across Asia.”

Pee Beng Kong, executive vice president, EDB, said: “Revolut’s continued investment to deepen its presence in Singapore reflects the important role Singapore plays in its regional growth. As Revolut nearly doubles its team and builds new product capabilities here, it will strengthen our fintech ecosystem and create valuable opportunities for local talent to develop skills and experience in a fast-growing sector.”

Nik Mehta, British High Commissioner to Singapore, said: “Revolut's growth story in Singapore is a brilliant example of British innovation making waves on the global stage. Since its launch, Revolut has grown from a UK start-up into a platform trusted by customers and businesses across Singapore and the wider region, and this new office and nearly S$350 million investment show real confidence in Singapore's future.”

The announcement comes during Singapore Grand Prix week, when the Audi Revolut Formula 1 Team will race at the Singapore Grand Prix for the first time.

The investment also follows Revolut’s recent expansion into lifestyle partnerships in Singapore. In August, it partnered with foodpanda and OpenAI to offer eligible customers complimentary access to pandapro and ChatGPT Go, adding everyday food, grocery and AI benefits to its paid membership proposition.

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