Revolut signs Singapore lease for SGD $350 million push

Revolut has signed a five-year lease for a new office at Collyer Quay Centre in Singapore, part of a planned investment of nearly S$350 million in the city-state over the next five years.

The 8,880 sq ft site in Singapore's financial district is due to open in early 2027 and will serve as the company's main local base as it expands its workforce to more than 300 employees. The hiring plan covers roles in engineering, product, data and AI.

The office expansion follows a sharp staffing increase in 2025, when the Singapore team grew by more than 95% year on year. Singapore is also expected to remain Revolut's main base for broader expansion across Southeast Asia.

The investment plan follows what Revolut described as its second consecutive year of net profitability in Singapore in 2025. It also comes seven years after the company launched in the market.

Local growth

Recent operating figures suggest the business is becoming more embedded in everyday consumer finance in Singapore, rather than relying mainly on travel spending. Domestic retail transaction volumes grew by more than 30% in 2025, with domestic transactions accounting for nearly half of total activity.

Peer-to-peer payment volumes rose by close to 40%, while both the number and volume of virtual card payments increased by more than 55%. The number of customers using Wealth & Trading also climbed by close to 55%.

The figures suggest broader use of Revolut's products in a market where digital payments, multi-currency accounts and app-based financial services are increasingly common. Recent additions in Singapore include Ultra, paid plans with partner offers, and more multi-currency options such as CNY and VND.

Business banking

Growth has also been strong on the business side. Revolut's Singapore business customer base grew fivefold in 2025, while deposit balances and transfer volumes each tripled over the past year. Card payment volumes rose tenfold over the same period.

Globally, Revolut Business has surpassed USD $1 billion in annualised revenue, according to the company. In Singapore, the offering has expanded to include products such as Flexible Cash Funds and merchant acquiring services for account-to-account, online and in-person payments.

The announcement adds to signs that international fintech groups still view Singapore as a strategic base for regional operations, despite tougher competition and a more selective funding environment across the sector. The combination of local profitability, hiring and a long-term lease suggests Revolut is committing more capital to a market it sees as central to its Asian plans.

Raymond Ng outlined that position in a statement on the expansion.

"Seven years after launching in Singapore, we're proud to establish a new home in the heart of the city's financial district. Our nearly S$350 million commitment reflects how far we've come and our confidence in the opportunities ahead. Singapore is a key market and an important base for our Southeast Asia ambitions. We'll continue investing in our people, products and technology to drive growth, strengthen our capabilities and bring more innovation to customers across the region. As we work towards reaching 100 million customers globally, Singapore will play an increasingly important role in our growth across Asia," said Raymond Ng, Chief Executive Officer, Singapore and Southeast Asia, Revolut.

Pee Beng Kong, Executive Vice President, EDB, linked the move to Singapore's role as a regional fintech base.

"Revolut's continued investment to deepen its presence in Singapore reflects the important role Singapore plays in its regional growth. As Revolut nearly doubles its team and builds new product capabilities here, it will strengthen our fintech ecosystem and create valuable opportunities for local talent to develop skills and experience in a fast-growing sector. We look forward to partnering with Revolut as it innovates from Singapore to serve customers across Southeast Asia and beyond," said Kong.

The move also drew support from the UK's diplomatic mission in Singapore.

"Revolut's growth story in Singapore is a brilliant example of British innovation making waves on the global stage. Since its launch, Revolut has grown from a UK start-up into a platform trusted by customers and businesses across Singapore and the wider region, and this new office and nearly S$350 million investment show real confidence in Singapore's future. The UK and Singapore have a deep and growing partnership in financial services, and I'm delighted to see a UK-headquartered company playing such an important part in that relationship, creating jobs, driving innovation and strengthening the links between our two financial centres," said Nik Mehta, British High Commissioner to Singapore.