London-based fintech company Revolut hires former Societe Generale CEO Frederic Oudea as chairman of its Western Europe hub in Paris, preparing to apply for a banking license in France. The move signals Revolut’s aggressive expansion, investing 1 billion euros over the next three years to scale services. Revolut’s share sale values the company at $75 billion, up from $45 billion in August 2024. The company obtained a UK banking license and plans to operate as a UK bank this year, using its Lithuanian license to sell products in the EU. Revolut is considering acquiring a U.S. lender to enter the American market. Former banking leaders like Oudea and Andreas Dombret of N26 are joining challenger banks, highlighting industry trends.

Read more at Yahoo Finance: Revolut hires former SocGen boss Oudea as West Europe chairman