Revolut has confirmed plans to establish operations in Peru, initiating the process by applying for a full banking licence in the country.
Julien Labrot has been appointed as CEO of Revolut Peru and will oversee the company’s launch and development within the Peruvian market.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Labrot, who brings significant financial sector experience from within the region, is expected to assemble a local team and guide Revolut’s business strategy on the ground.
Revolut expansion head Carlos Urrutia said: “Revolut’s entry into Peru is built on our belief that digital financial services should be empowering, accessible, and secure for everyone.
“By pursuing a full banking licence we are not just entering a new market – we are committing to becoming a trusted and integral part of Peru’s financial ecosystem.”
If granted a full banking licence, Revolut will be able to introduce a suite of products and services tailored to Peruvian customers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe fintech firm intends to expand its workforce in Peru over the coming months, continuing its adoption of primarily remote work practices.
Peru is the fifth Latin American market targeted by Revolut.
This follows previous expansion announcements for Brazil, Mexico, Colombia, and Argentina.
The company has stated an objective of reaching 100 million customers across 100 countries globally.
For 2024, Revolut reported revenue of $4bn, profits of $1bn, and total assets amounting to $33bn, with a valuation of $75bn.
Revolut Peru CEO Julien Labrot commented: “Our focus is on bringing the best of Revolut to the Peruvian market while building a secure and compliant platform that genuinely serves the needs of our future customers.
“We are here to contribute to the digital transformation of financial services, working closely with regulators to offer a long-term, trusted world-class banking solution for individuals and businesses alike.”
Recently, Revolut introduced an in-app function designed to counteract impersonation scams.
The new tool identifies when users access the app during phone calls including those through third-party platforms and seeks to verify if the call involves a legitimate Revolut representative.
