Revolut has received its licence to operate from Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC). The company said the licence is the last regulatory step it needs before it launches in the country.
Revolut announced the approval on 15 September. The licence allows it to operate as a regulated bank in Colombia.
Around 200,000 people in Colombia have already joined the waiting list, according to the company. It has not given a launch date.
Six banking licences
Colombia is Revolut’s sixth full banking licence. The company already holds banking licences in the UK, France, Australia, Lithuania, and Mexico.
This year Revolut has obtained bank licences in France, Australia, and the UK. It has also received conditional approval from the US Office of the Comptroller of the Currency for a national bank charter.
In the same period, Revolut won a payments licence in the UAE. It also received an organisation licence from Peru’s banking, insurance and pension regulator, the SBS.
Chief executive and founder Nik Storonsky said in the announcement:
“Securing this licence allows us to bring our cutting-edge technology and financial stability to a dynamic market, offering Colombians a transparent platform that puts power back in their hands. With over 80 million people already trusting Revolut and a balance sheet that reflects our strong and sustained profitability, we are proving that financial control can, and should be, borderless.”
What Revolut plans in Colombia
Revolut says it will launch a full range of financial products in Colombia. It plans to focus on everyday banking and on managing money across borders, including remittances.
The company said it has met the SFC’s capital requirements. Fogafín, Colombia’s deposit insurance scheme, will protect customers’ deposits.
Diego Caicedo, chief executive of Revolut Colombia, said:
“Today we are one step closer to operating in Colombia. We are not going to just launch as a bank; we are connecting Colombia to the global economy, simplifying remittances and access to world-class products in one single place, supported by the infrastructure of one of the world’s most innovative financial platforms. This licence is an important regulatory milestone, and we are excited to demonstrate the value of our proposition in the Colombian market.”
The numbers behind the expansion
Revolut says it has more than 80 million customers worldwide. It aims to reach 100 million by mid-2027.
According to its 2025 annual report, Revolut made $6bn in revenue last year, up 46% on the year before. Pre-tax profit was $2.3bn, its fifth year in a row of net profit. Customer balances reached $67.5bn.
A share sale earlier this year valued the company at $115bn. A new share deal for Storonsky targets a $500bn valuation.
Revolut’s expansion has also drawn regulatory attention. In June, the European Central Bank moved to restrict some of its products. On 13 September, TNW reported that Revolut handed customer passports to scammers who used a real government email domain.
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