London-based fintech firm Revolut announced plans to open a new office in Singapore as part of broader expansion efforts in the Asia-Pacific region. The company revealed on October 8 that it will establish a presence at Collyer Quay Centre, occupying approximately 8,880 square feet on the building’s ninth floor, with the office expected to open in early 2027. Revolut’s name will also be displayed on the building.
The company, which began operations in Singapore in 2019, currently employs around 170 staff members locally and intends to increase this number to over 300 within the next three years. The planned investment of nearly SGD 350 million over five years will focus on product development, business growth, and workforce expansion. Revolut’s local team has already seen substantial growth, nearly doubling in size in 2025, and the company plans to recruit additional personnel in areas such as engineering, product management, data science, and artificial intelligence.
Raymond Ng, Revolut Singapore’s chief executive, emphasized the significance of having a dedicated office space for both employees and customers. Ng described the move as a demonstration of the company’s commitment to Singapore and its ambition to establish a regional base. He highlighted the desire to evolve Revolut’s image beyond its origins as a travel-oriented app and to become a comprehensive financial service platform for everyday money management.
Revolut’s offerings in Singapore include a cryptocurrency license, enabling users to trade digital assets, invest, and access tiered subscription plans that provide wealth and lifestyle products such as VPNs, AI services, and travel insurance. Ng noted that while the company initially focused on travel-related services, it now aims to broaden usage among Singapore’s sophisticated user base for daily financial transactions.
Singapore’s status as a financial and logistics hub provides opportunities for Revolut to cater to small and medium-sized enterprises (SMEs) and cross-border companies requiring integrated financial solutions. Ng pointed out that many multinational firms use Singapore as a regional headquarters, generating demand for services like remittances and streamlined financial operations where Revolut can play a role.
When asked about plans to pursue a digital bank license in Singapore, Ng declined to comment, noting that Revolut holds such licenses in the United Kingdom, Mexico, France, and Australia. He explained that the company prioritizes assessing market needs and consumer feedback before seeking regulatory approval, emphasizing the importance of product fit over obtaining licenses prematurely. Ng also outlined the limitations of non-bank institutions, which cannot accept deposits, offer interest, or provide loans like traditional banks.
Describing Revolut primarily as a technology company that delivers financial and lifestyle services, Ng revealed ongoing development of an AI-powered interface for the Singapore app. This feature will enable users to interact with the platform through voice commands and prompts, reflecting broader consumer expectations for integrated, multifunctional digital experiences.
Ng envisions a future in which users can access a range of services—from banking and investment to paying gym memberships and managing eSIMs—within a single app. He summed up the company’s approach by stressing the importance of solving real consumer problems, providing convenience, and delivering superior user experiences as the basis for product development.