Revolut to make Dallas its hub for US expansion with 300 hires

After a tumultuous 2020 put many European fintechs’ plans for US expansion on ice, Revolut is preparing a huge marketing push that it hopes will help it reach 1m American customers by early next year.

To drive the growth Revolut is hiring at least 300 staff in Dallas, Texas, which will see the city overtake New York and San Francisco as Revolut’s largest US hub.

The recruitment drive was revealed by Revolut’s global head of sales Matthew Acton Davis last month in an interview with the Dallas Morning News.

“We are investing heavily in growth in the US over the course of this year,” Davis said. “Overall, it's one of the largest bets that we have as an organization.”

The Dallas hub will primarily focus on Revolut’s business bank account, which the fintech believes can have a big impact on the US market.

Meanwhile, Ron Oliveira, CEO of Revolut USA, told The Times that his goal is to take the US from 200,000 Revolut customers to over 1m by early 2022.

The CEO described 2021 as a “watershed year” for the fintech in the States, where it has also recently submitted its application for a banking licence.

Revolut is currently rumoured to be working on a funding round—following its $500m raise in 2020 that valued the business at $5.5bn—which could further double or triple its valuation.

As well as the US, Revolut is also in the midst of a “multi-million-pound” Indian expansion under new India CEO Paroma Chatterjee.

“India is a core market in our expansion strategy with a huge supply of talent, and we’re excited to tap into that talent pool to help Revolut go from strength to strength,” said Revolut’s CEO and co-founder Nikolay Storonsky last month.