Revolut Aims for One Million Customers in Mexico Within First Year

Hey Digital Banking Fanatic!

Revolut is officially set to begin operations in Mexico. With banking authorization now granted, the company is preparing to launch services in Beta before a full-scale rollout.

Globally, Revolut is present in around 40 countries and has nearly 70 million users, and is now adding 1 million new customers globally every 17 days 🤯 Mexico marks its first banking license outside of Europe.

“We want to compete with the big banks in Mexico; let’s go for everything,” said Juan Miguel Guerra, CEO of Revolut Mexico.

The British FinTech aims to be in the top five banks in the country by number of users within five years and expects to reach one million customers in the first 12 months of operation.

“What interests us most is the effusiveness of the users — their enthusiasm for the product,” Guerra noted. “We want to be the most beloved bank in the country.”

Meanwhile, in Portugal, Revolut’s Kids and Teens product for users aged 6 to 18 saw 53% growth in accounts over the past year, from 75,500 to 115,500. Balances grew by 56%.

As Revolut scales in Mexico and grows with the next generation in Portugal, its regional playbook is coming into focus. What's your take? Do you think Revolut is going to crush it in Mexico like it's currently doing in Europe?

Plenty more digital banking stories below 👇 Scroll down and dive in.

Cheers,

Marcel

INSIGHTS

🇧🇷 Nubank surpasses Petrobras to become Brazil’s most valuable company 🤯

Who saw this coming?

NEWS

🇲🇽 Revolut plans to compete directly with Mexico’s largest banks after securing its first banking license outside Europe. CEO Juan Miguel Guerra emphasized Revolut’s goal to challenge major institutions “head-to-head,” replicating its European strategy as the company expands its global footprint of nearly 70 million users across 40 countries.

🇵🇹 Revolut Kids and Teens grew from 75,000 to 115,000 accounts in one year. According to the digital bank, the total amount of money in Portuguese accounts of this type increased by 56%, mainly due to strong uptake. Continue reading

🇩🇪 JPMorgan seeks to join the front rank of retail banks in Germany with the Chase launch. Daniel Llano Manibardo, head of Chase Germany, said the bank aims to challenge established players in Europe’s largest market despite profitability challenges, reflecting JPMorgan’s broader strategy to rank among the top five in every market it enters.

🇵🇭 Salmon Bank eyes thrift banking license in 2026 with ₱1.2-billion capital plan. Salmon Bank plans to infuse around ₱600 million into its banking unit by the end of 2025, and another ₱600 million in 2026. Keep reading

🇲🇽 FEMSA delays OXXO's banking license application by one year; it will first strengthen its credit business. The decision is because they seek to first consolidate their credit division and maximize the use of data from their Spin by OXXO financial platform.

🇬🇧 Clear Junction appoints Teresa Cameron as Group CEO. With over four years at Clear Junction and a strong background in finance and leadership, Cameron aims to expand the company’s international reach, strengthen client trust, and drive further growth while maintaining its established strategy and culture.

🇬🇧 Zempler Bank partners with iwoca to improve access to funding for SMEs. By integrating iwoca into its marketplace, Zempler provides customers with a simple, trusted way to secure fast, flexible finance directly through its platform. Read more

🌍 Vivid and lemon.markets set a new standard for multi-asset investing in Europe. The integration of lemon.markets’ platform enables Vivid to offer multi‑asset investing for business and retail customers. The collaboration creates a future‑proof set-up built for speed, simplicity, and pan‑European reach.

🇺🇸 Dave appoints Parker Barrile as Chief Product Officer. Parker will lead Dave’s product, design, and operations teams as the Company advances its strategic roadmap. This includes broadening Dave’s suite of financial products and strengthening its AI and credit capabilities to drive future growth and profitability.

🇬🇧 Barclays and Visa extend partnership. As part of the expansion, Barclays and Visa will explore new opportunities to innovate across a broad spectrum of payment types, channels, and technologies. Visa will provide Barclays with access to enhanced services supporting both issuing and acquiring.

🇺🇸 WisdomTree appoints BNY for banking-as-a-service infrastructure for digital assets. WisdomTree Prime is the first app to provide access to tokenized funds to U.S. retail investors with stablecoin on and off-ramps via WisdomTree’s stablecoin conversion service.

Want your message in front of 100.000+ Digital Banking fanatics, founders, investors, and operators?

Shoot me a message on LinkedIn or send me an e-mail.