Home Finance & Business European fintech Revolut eyes Morocco as gateway to MENA expansion

European fintech Revolut eyes Morocco as gateway to MENA expansion

European fintech Revolut eyes Morocco as gateway to MENA expansion
European fintech Revolut eyes Morocco as gateway to MENA expansion

Revolut, the European fintech powerhouse, is setting its sights on Morocco as the next frontier in its global expansion strategy. The London-based digital bank has begun laying the groundwork for a potential entry into the Moroccan market, assembling a dedicated local team to lead the effort.

A company spokesperson confirmed to Asharq that Revolut is currently evaluating multiple markets as part of its broader international growth plan. While discussions are still in the early stages, Morocco has emerged as a particularly attractive opportunity for the company’s push into the MENA region.

A key part of the setup process involves securing regulatory approval from Bank Al-Maghrib, the country’s central bank—a step that is already underway. Revolut has indicated that it’s ready to launch operations as soon as the necessary licenses are in place.

Known for its wide-ranging digital financial services, Revolut offers everything from savings accounts and investment tools to personal and business loans, currency exchange, cryptocurrency trading, and financial management solutions. Its ambition is to serve as an all-in-one financial “super-app” for both individuals and companies.

With a global user base exceeding 60 million, Revolut ranks among the world’s fastest-growing fintech firms. In 2024 alone, the company processed over $1 trillion in transactions and now holds an estimated market valuation of around $45 billion.

To steer its Moroccan operations, Revolut has tapped Amine Berrada, formerly in charge of Uber’s operations across Southern and Eastern Europe. In a LinkedIn post, Berrada expressed his excitement at helping to launch what he described as Morocco’s first financial super-app—an innovation he believes will transform access to banking services in the country.

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