Will BoursoBank soon lose its status as France’s most popular online bank? With the French user milestone reaching 4 million, and 150,000 new users being added every month, Revolut aims to surpass its competitors and go even further.
Online bank Revolut, which has nearly 50 million customers worldwide, announced that it has reached a milestone of 4 million users in France. While it’s still a far cry from BoursoBank and its 6.5 million customers, Revolut’s incredible growth rate suggests it could soon compete with the online banks currently favored by the French.
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France is growing rapidly
With an average of 150,000 new users per month, Revolut is the fastest growing online bank, ahead of BoursoBank and Crédit Agricole. The British online bank soon passed the milestone of 4 million French customers, reaching 3 million in March of the same year.
Compared to the recent German online bank N26 and its 2.5 million customers in France, Revolut has entered a higher stage and should be on the same level as BoursoBank or Nickel.
Revolut stresses that its growth is driven on the one hand by a constant pace of releases and updates, and on the other hand by a marketing strategy that strengthens its visibility (partnership with the NBA, collaborations with content creators such as Squeezie and Léna Situations, posters and TV campaigns… ) .
Over the past two years, Revolut has significantly increased its banking products and services: consumer loans, cryptocurrency trading, travel discounts and benefits, and even recently, a savings account. Finally, online banking also announced the upcoming launch of Livret A and real estate credit, which have been waiting for several years. It can be said that Revolut is not far away from a “real bank”.
France is a priority market for Revolut
France is now Revolut’s second-largest market in terms of revenue and growth, after the UK. In particular, it aims to reach 20 million customers by 2028, for which Revolut intends to invest at least €100 million.
Revolut is currently the fastest growing bank in the French market, with increasing customer deposits. We will increase our efforts, especially the development of new products. We have just launched our first savings product, we are developing real estate loans and will be making new announcements in the coming months.
Antoine Le Nel, Director of Growth and Marketing at Revolut