Revolut to open new Singapore office, invest S$350M & grow local headcount to 300

The new office will be Revolut’s first permanent base in Singapore

Revolut will open a new office at Collyer Quay Centre, a mark of its expansion plans in Singapore and the region, the London-headquartered fintech company said on Oct 8.

It will also invest nearly S$350 million in Singapore over the next five years, spanning product innovation, business growth and the expansion of its local workforce.

The new office, occupying 8,880 sq ft on the ninth floor of Collyer Quay Centre, is slated to open in early 2027, with the company’s name displayed on the building. Revolut currently operates out of co-working space WeWork at Funan.

In an interview with The Business Times, Revolut Singapore and South-east Asia chief executive Raymond Ng said the move reflects the company’s intention to deepen its local roots.

“It’s a very significant moment for us,” he said. “Having our own office and our own logo… signals to the local authorities and users that we are going to be deeply rooted in this market.”

He added that the Singapore base will serve as a launch pad for Revolut’s broader Asian ambitions, supported by a favourable regulatory environment and a deep talent pool.

The move comes after the close of a secondary share sale in Sept 2026, which sources said valued Revolut at US$115 billion (S$147 billion), unchanged from its valuation after a Jul secondary sale and up from US$75 billion (S$96 billion) in 2025. The company’s pretax profit for 2025 was £1.7 billion (S$2.8 billion).

“From our Singapore base, we will drive our regional expansion efforts across Asia,” Ng said. “We want to be their daily app, not a travel app, because our ultimate aim is to be all things money to our users.”

Revolut, which entered Singapore in 2019, now employs nearly 170 people here, but plans to grow its headcount to more than 300 over the next three years.

The firm has nearly doubled its Singapore headcount in 2025 and plans to hire more people across engineering, product, data and artificial intelligence.

“As we expand, we want to hire more Singaporeans and create more local financial leaders who can eventually form the next generation of senior management,” Ng said.

He told The Business Times that the company plans to keep its current workforce mix of 70% locals and 30% foreigners.

Pee Beng Kong, executive vice-president of the Economic Development Board, said Revolut’s near-doubling of its team and expansion of its product capabilities will “strengthen our fintech ecosystem and create valuable opportunities for local talent to develop skills and experience in a fast-growing sector.”

Staying ahead of rivals

In a crowded market of digital banks and multi-currency wallets, Revolut has been expanding its core offering from a travel-focused card into an everyday financial-management app.

When asked how it plans to stand out from competitors offering similar financial tools, Ng pointed to the company’s tiered subscription model, which bundles lifestyle and productivity perks directly into its financial services.

In Aug, Revolut launched a new top-tier subscription, Ultra, which the company said offers users S$10,000 in annualised lifestyle value through bundled partnerships.

“A lot of traditional financial institutions or fintechs focus on a single product, but we are building a financial super-app with lifestyle services embedded,” Ng said.

He added that Revolut is “one of the few companies in Singapore offering tiered products from free plans to paid subscriptions,” and that product design is guided by three questions: “Are we solving a consumer problem?”, “Are we delivering convenience?” and “Are we offering a great experience?”

In 2025, Revolut’s domestic transaction volumes in Singapore grew by more than 30% year on year and now account for nearly half of all user activity. Peer-to-peer payment volumes rose by almost 40%, while virtual card usage and the number of wealth and trading customers each grew by more than 55%.

Its business segment has also gained significant traction. The local business-customer base expanded fivefold in 2025, and between Aug 2025 and Aug 2026, corporate deposit balances and transfer volumes tripled, while merchant card-payment volumes surged tenfold.

Globally, the platform serves more than 80 million retail customers and 850,000 businesses, with operations in Singapore, Japan, India, The Philippines, Australia and New Zealand.

Featured Image Credit: Revolut

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