UK's Revolut weighs buying US bank in push for global expansion

Core Insights - Revolut is exploring the acquisition of a U.S. bank to enhance its global expansion and is considering launching credit cards in the UK market [1][3] - The company aims for a valuation of $75 billion in a secondary share sale and has 65 million customers, surpassing HSBC in customer count but with significantly lower revenue [2] - Revolut plans to invest $13 billion over the next five years for global expansion, including $4 billion specifically in the UK [4] Company Strategy - Revolut is committed to maintaining its presence in the UK while expanding internationally [3] - The company is evaluating options for entering the U.S. market, including acquiring a bank or obtaining a banking license [3] - Executives expressed hope to secure a UK banking license by the end of the year, which would allow for the launch of credit cards and unsecured credit [4] Financial Goals - The projected total global revenues for Revolut in 2024 are £3.1 billion ($4.2 billion) [4] - The planned investment of $13 billion over five years indicates a strong commitment to growth and market penetration [4]