Observed Signal · Jun 1, 2026 · Beta Rollout · Source: techcrunch · Impact: 2/5 · Sentiment: Neutral
Revolut begins controlled India beta for thousands
British fintech Revolut has begun a controlled beta rollout of its India app, granting access to a few thousand users from its roughly 450,000-person waitlist ahead of a broader launch. The localized beta is available via the Google Play Store and Apple’s App Store and supports UPI payments, e-money wallets, domestic prepaid cards, multi-currency and virtual/disposable cards. Revolut built its India presence since 2021, hired Paroma Chatterjee to lead local operations, acquired Arvog Forex in 2022, and obtained a prepaid payment instrument (PPI) license from the Reserve Bank of India. Sensor Tower estimates nearly 820,000 Revolut app downloads in India to date. The company plans to expand onboarding soon but gave no firm public launch date.
Revolut's beta launch in India signals expansion into a very large digital payments market and adds a new competitor and payment product set, but it is an early-stage rollout with limited immediate impact on the broader AdTech industry.
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Key Takeaways & Evidence Grounding
- Revolut has started a controlled beta rollout in India with a few thousand users active.
- The rollout draws from an approximately 450,000-user waitlist.
- Beta app is available on the Google Play Store and Apple’s App Store and supports UPI payments, e-money wallets, domestic prepaid cards, multi-currency cards, virtual cards, and disposable cards.
- Revolut acquired Arvog Forex in 2022 and secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, enabling prepaid cards and wallet services.
- Sensor Tower estimates Revolut’s app has been downloaded nearly 820,000 times in India since listing in app stores.
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Revolut Secures Full UK Banking License After Long Wait
Fintech firm Revolut has been granted a full U.K. banking license, allowing it to operate as a fully licensed retail and business bank in the U.K. and to offer new products including lending. Revolut began its application in 2021 and had previously received a restricted banking licence in July 2024 from the U.K.’s Prudential Regulation Authority that limited total customer deposits to £50,000. The company, which reached a $75 billion valuation in 2025, said the U.K. is its home market; it reported about 70 million customers, has applied for a U.S. banking licence, and plans to launch in 30 new markets by 2030. Revolut framed the approval as a strategic milestone following a protracted regulatory mobilisation phase.
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