Revolut is rolling out a consumer payments and forex app in India under an RBI prepaid payment instrument licence. India also hosts Revolut's global capability centre, which now has more staff than its London headquarters.
Ownership and structure
Revolut operates in India through its own local business, which includes the forex firm Arvog Forex that it acquired in 2022, and holds a prepaid payment instrument licence from the RBI.
What India does for Revolut
India is Revolut's largest employee base, running product development, customer support, payment processing and fraud work for the group, and is also a new consumer market for its wallet, UPI and card products.
Investment and deals
In October 2025 Revolut committed £500 million, about Rs 5,900 crore, over five years to its India business and global capability centre.
Revolut's India business
Revolut acquired Arvog Forex in 2022 to strengthen its regulatory presence in India. It received a prepaid payment instrument licence from the RBI in April 2025.
In 2025 it committed £500 million to its India operations over five years. In June 2026 it began a controlled beta in India offering UPI payments, wallets and multi currency cards.
Revolut plans to grow its India team to about 5,500 by the end of 2026.
Key moves in India
- 2021: Revolut began building its India business.
- 2022: Revolut acquired Arvog Forex to strengthen its regulatory presence and offer remittance and multi currency services.
- 2025: Revolut received a prepaid payment instrument licence from the Reserve Bank of India covering prepaid cards, wallets and UPI.
- 2025: In October Revolut committed £500 million over five years to its Indian operations.
- 2026: In June Revolut opened a controlled beta to waitlisted users offering UPI payments, wallets and multi currency cards.
Where it operates
Revolut has a presence in Bengaluru.
At a glance
- Home country: United Kingdom
- Global headquarters: London
- Sector: Banking & Financial Services
- Business: Fintech
- Role of India: Sales market, Global delivery and operations, Financial services franchise
- India offices: Bengaluru
- India headcount: Not available
- In India since: 2021
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