Revolut's €1bn bet on France signals waning UK fintech appeal
Revolut's decision to anchor its Western European operations in Paris as part of a €1bn investment drive is a seismic moment for European FinTech and a wake-up call for the UK's financial services sector.
The British-born neobank's move to establish dual headquarters in Paris and Vilnius, alongside plans to create over 200 jobs in France and to apply for a local banking licence, marks more than a simple geographic shift. It underscores a strategic pivot toward jurisdictions that offer faster regulatory approvals, greater market access, and policy frameworks that are more supportive of innovation.
This is not a minor rebuke. France has now become Revolut's fastest-growing market and this investment cements its role as the company's continental stronghold. In contrast, Revolut's long-standing struggles to secure a UK banking licence, despite being one of the country's highest-valued fintechs, highlight growing frustration with the UK's regulatory complexity and lack of clarity.
The broader implications are clear. London is no longer the undisputed capital of fintech innovation. The loss of passporting rights following Brexit has created additional friction for firms aiming to scale across the EU. Revolut's move could prompt a broader migration of fintechs toward more-agile, EU-based jurisdictions. This trend has been quietly gaining traction, but Revolut's high-profile pivot now brings it into sharp focus.
Crucially, this is not just about meeting regulatory requirements. Companies, such as Revolut, are making strategic decisions based on where they can innovate, scale, and serve customers with minimal delay. For France, this move is a strong endorsement of its efforts to position Paris as a European fintech hub. Incentives for investment, open dialogue with the tech sector, and a regulatory environment that is increasingly seen as business friendly have all contributed to its rise.
For the UK, however, the move raises pressing questions. Can London remain competitive without adapting its regulatory posture? Has the balance between consumer protection and innovation tipped too far toward caution?
To maintain its leadership in fintech, the UK must evolve. This does not mean lowering standards, but it does require a regulatory framework that is clearer, faster, and more attuned to the needs of digital-first firms. Greater transparency in licensing, more-predictable timelines, and a proactive approach to industry engagement are all essential steps.
Revolut's shift to Paris is both a symptom and a signal. It reflects the changing centre of gravity in European fintech and serves as a warning that the UK's global leadership in the sector is at risk unless action is taken.
Harry Swain is an analyst, banking and payments, GlobalData
"Revolut's €1bn bet on France signals waning UK fintech appeal" was originally created and published by Retail Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Robotic Pet Company Tombot Secures $6.1M Series A Funding to Support Groundbreaking Health and Senior Care Product Line
LOS ANGELES, June 12, 2025--(BUSINESS WIRE)--Tombot, the robotics company that earned widespread acclaim at CES earlier this year for its lifelike robotic puppy, Jennie, announced today the successful close—and oversubscription—of its $6.1 million Series A funding round. "Tombot is entering a high-demand, underserved market at the intersection of mental health and assistive technology," said Tombot CEO and Co-Founder Tom Stevens. "Over 300 million seniors around the world with dementia and mild cognitive impairment are unable to care for a live animal at a time when they need the companionship of a pet more than ever. Millions of other individuals suffering from mental health adversities are in a similar predicament." With artistic design by Jim Henson's Creature Shop, and developed with the guidance of clinical experts, patients, and their families, Jennie provides many of the health benefits associated with live animal ownership, such as reduced stress and loneliness. Jennie will be used in private homes, assisted living and memory care communities, and other settings where live animals are not always safe or practical. Covered with sensors to respond to touch, voice commands, movement, and other sensory inputs, Jennie is rechargeable, fully cleanable, and comes with an optional caregiver app to customize behaviors and ease the burden of caregiving. With participation from both new and existing investors, the funding round was led by Caduceus Capital Partners, a Nashville-based team of veteran healthcare investors with a primary emphasis on accelerating growth of early-stage digital health startups. "We identified the growing need for robotic companions several years ago and believe the market is now on the brink of exponential expansion," said Dave Vreeland, senior managing partner, Caduceus Capital Partners. "By 2030, the U.S. is projected to have 73 million seniors – an aging population that will increasingly face challenges related to loneliness, companionship, and chronic disease management. These issues are rapidly surpassing the capacity of human caregivers alone. Tombot is uniquely positioned to lead this emerging sector and drive widespread adoption of robotic companions." "This investment will be rocket fuel for Tombot," said Stevens. "We are most appreciative of our company's Board of Directors for their ongoing guidance, and are especially grateful to Caduceus for recognizing and supporting Tombot's mission of creating robotic animals that transform the daily lives of individuals, families, and communities facing health adversities." According to Stevens, this milestone investment will be used to expand Tombot's team, finalize engineering, complete regulatory and safety certifications, and prepare its first robotic pet for customer shipments to its more than 16,000 pre-order and waitlist customers. About Tombot Tombot, Inc., established in 2017, designs realistic robotic companion animals for individuals unable to safely or practically care for a live animal. After Tom Stevens' own mother's progressive dementia necessitated the rehoming of her beloved pet dog for safety reasons, Tom launched Tombot. Tombot's flagship product, Jennie, was designed specifically to treat the Behavioral and Psychological Symptoms of Dementia (BPSD). The Tombot founding team built a prior startup into one of the world's largest legal automation companies and was successfully acquired. View source version on Contacts Media Contacts: Brotman•Winter•Fried Consulting Laura Runcielaura@ (201)707-9372 Steve Winterswinter@ (202) 468-8100
Eater
28 minutes ago
- Eater
Mission Chinese Founder Takes Surprise Gig at Buddakan
Nearly two decades after pan-Asian clubstaurant Buddakan made its flashy Meatpacking District debut, Starr Restaurant Group is turning to a big-name chef to reinvent it. Mega-restaurateur Stephen Starr tapped Danny Bowien, of Mission Chinese Food fame, 'to revitalize the menu at Buddakan and give it a fresh look,' a Starr rep tells Eater. The team declined to say whether Bowien is a newly named co-owner or partner, as 'it's still in extremely early development stages.' The Substack Feed Me first flagged Bowien's incoming involvement this week. Bowien is best known for his San Francisco-born smash hit Mission Chinese, which expanded to New York in 2012 to instant acclaim. Subsequent locations followed on the Lower East Side and Bushwick. The restaurant group's reputation took a turn after employees repeatedly alleged a range of misconduct at the LES location, including racial discrimination as well as physical and verbal abuse. In 2022, Mission Chinese pulled out of NY completely. Bowien's neon-lit millennial magnet made a surprise NY comeback last spring, this time in the heart of Chinatown, as a nighttime residency inside Cha Kee (43 Mott Street, at Bayard Street). What started as a pop-up is now a permanent operation, complete with longstanding Mission Chinese favorites like chile-blasted Chongqing chicken wings, kung pao pastrami, and other inventive takes on Sichuan cuisine through his Chinese American lens. The 15-year-old original in San Francisco's Mission District is still open today (though under new ownership). It remains unclear how Bowien plans to zhuzh Buddakan's existing menu full of dim sum, sizzling short ribs, and Beijing duck. Choosing to align with a cash-cow conglomerate of a company like Starr is relatively surprising, considering Bowien's keep-it-tight approach to the restaurant world. Like Mission Chinese, Buddakan has also dealt with past allegations of discrimination and a toxic work culture. Starting as a single location in Philadelphia in 1988, Buddakan grew into a mini empire at its height, with locations in Pennsylvania, New York, and New Jersey. The Meatpacking District location opened in 2006 and, backed by an early two-star review from the New York Times , was an immediate hit. In Manhattan at that time, Buddakan was 'a hipper, younger, clubbier analogue to older, expensive, white tablecloth venues,' former Eater critic Ryan Sutton wrote in a 2015 review. See More: Coming Attractions NYC Restaurant News
Business Wire
31 minutes ago
- Business Wire
Robotic Pet Company Tombot Secures $6.1M Series A Funding to Support Groundbreaking Health and Senior Care Product Line
LOS ANGELES--(BUSINESS WIRE)-- Tombot, the robotics company that earned widespread acclaim at CES earlier this year for its lifelike robotic puppy, Jennie, announced today the successful close—and oversubscription—of its $6.1 million Series A funding round. Tombot's flagship product, Jennie, was designed specifically to treat the Behavioral and Psychological Symptoms of Dementia (BPSD) and other health issues. 'Tombot is entering a high-demand, underserved market at the intersection of mental health and assistive technology,' said Tombot CEO and Co-Founder Tom Stevens. 'Over 300 million seniors around the world with dementia and mild cognitive impairment are unable to care for a live animal at a time when they need the companionship of a pet more than ever. Millions of other individuals suffering from mental health adversities are in a similar predicament.' With artistic design by Jim Henson's Creature Shop, and developed with the guidance of clinical experts, patients, and their families, Jennie provides many of the health benefits associated with live animal ownership, such as reduced stress and loneliness. Jennie will be used in private homes, assisted living and memory care communities, and other settings where live animals are not always safe or practical. Covered with sensors to respond to touch, voice commands, movement, and other sensory inputs, Jennie is rechargeable, fully cleanable, and comes with an optional caregiver app to customize behaviors and ease the burden of caregiving. With participation from both new and existing investors, the funding round was led by Caduceus Capital Partners, a Nashville-based team of veteran healthcare investors with a primary emphasis on accelerating growth of early-stage digital health startups. 'We identified the growing need for robotic companions several years ago and believe the market is now on the brink of exponential expansion,' said Dave Vreeland, senior managing partner, Caduceus Capital Partners. 'By 2030, the U.S. is projected to have 73 million seniors – an aging population that will increasingly face challenges related to loneliness, companionship, and chronic disease management. These issues are rapidly surpassing the capacity of human caregivers alone. Tombot is uniquely positioned to lead this emerging sector and drive widespread adoption of robotic companions." 'This investment will be rocket fuel for Tombot,' said Stevens. 'We are most appreciative of our company's Board of Directors for their ongoing guidance, and are especially grateful to Caduceus for recognizing and supporting Tombot's mission of creating robotic animals that transform the daily lives of individuals, families, and communities facing health adversities.' According to Stevens, this milestone investment will be used to expand Tombot's team, finalize engineering, complete regulatory and safety certifications, and prepare its first robotic pet for customer shipments to its more than 16,000 pre-order and waitlist customers. About Tombot Tombot, Inc., established in 2017, designs realistic robotic companion animals for individuals unable to safely or practically care for a live animal. After Tom Stevens' own mother's progressive dementia necessitated the rehoming of her beloved pet dog for safety reasons, Tom launched Tombot. Tombot's flagship product, Jennie, was designed specifically to treat the Behavioral and Psychological Symptoms of Dementia (BPSD). The Tombot founding team built a prior startup into one of the world's largest legal automation companies and was successfully acquired.
