Online real estate credit, massive investments… Revolut has big ambitions for the French market

Deal Score0
Deal Score0

After the controversy that we reported to you yesterday regarding the potential use of Revolut user data, today brings more encouraging news for the British neobank. The latter has just announced a substantial investment of 100 million euros to develop on the French market in the next 12 to 18 months. Strong in its three million French customersit is aiming to reach the four million mark by the end of 2024 by enriching its offer, in particular with the long-awaited launch of real estate loans.

The online real estate loan already in testing

Revolut has made a name and reputation for itself with its multi-currency cards allowing you to pay without fees abroad. But to go further than this flagship product, the London fintech founded in 2015 by Nikolay Storonsky and Vlad Yatsenko obtained a European banking license at the end of 2021. A key that opens the way to credit, an essential growth driver to make its enormous base of around forty million users around the world profitable.

Over the next year and a half, Revolut will use the 100 million euros mentioned at the start of the article to strengthen its French teams, develop new products adapted to our market and increase its local advertising investments. The neobank already offers consumer loans in several European countries and is even already testing real estate loans to be taken out online in Lithuania and Ireland. France, its second market, is logically next on the list, with a real estate loan offer which will arrive in our latitudes by the end of 2024, according to the British company.

Advertising, your content continues below

One “super app” to rule them all

But the game does not look easy in a real estate market slowed by the rise in interest rates and where prices remain high despite the first signs of correction. Revolut will also have to compete with traditional banks, which maintain an image of solidity and proximity among purchasing candidates, as well as brokers like Cafpi or Meilleurtaux.

To succeed, the neobank intends to rely on its “super app” model aggregating multiple financial services. Payments, exchange, savings, eSIMtrading, insurance… Customers will eventually be able to manage all their finances from a single, carefully designed application, where traditional banks often struggle to offer smooth journeys.

Revolut is therefore working hard to break into the French market, which it considers a priority. Its goal of four million users by the end of 2024 is ambitious, but not unrealistic given its rapid growth. The neobank will nevertheless have to succeed in its bet on real estate credit, a complex and regulated product, while facing increased competition from traditional banks which are counter-attacking online.

Advertising, your content continues below

More Info

We will be happy to hear your thoughts

Leave a reply

Bonplans French
Logo