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License fight: Revolut boss Francesca Carlesi said financial app is ‘moving in the right direction’ after long delays
Revolut’s new UK boss said he is “determined” to get a banking licence, more than a year after insisting approval was “imminent”.
Francesca Carlesi, who joined in December, said the financial app is “moving in the right direction” after long delays. “We are determined to work hard to get there,” Carlesi said.
His comments come more than a year after Revolut said approval of its license was imminent, and three years after it applied for it.
She suggested the company could still end up listing in the City eventually, walking back comments made by Revolut co-founder and chief executive Nik Storonsky last year.
“We know that it is always convenient for companies to indicate what their largest market is,” he said.
Revolut applied for a license from the Bank of England in 2021, which would allow it to expand in the United Kingdom. At the time it was worth around £26bn, but at its latest valuation the company, whose chairman is City grandee Martin Gilbert, was worth £14bn.
It has 1,200 employees in the UK and 8 million customers.