Revolut, one of the world’s largest fintech companies, has officially announced plans to enter the Peruvian market, marking another strategic step in its expansion across Latin America. The company has submitted an application for a full banking licence in Peru and appointed Julien Labrot as CEO of Revolut Peru, who will lead local operations and strategy.
With this move, Peru becomes the fifth Latin American market where Revolut has announced expansion plans, following Brazil, Mexico, Colombia and Argentina.
A long-term, fully regulated approach
By applying for a full banking licence, Revolut is signalling its intention to build a long-term, locally regulated business in Peru from day one. Rather than operating as a light-touch fintech, the company aims to integrate fully into the country’s financial system and tailor its services to a rapidly digitising economy.
Peru presents a compelling opportunity for digital banking. Smartphone penetration is close to 100%, yet a significant portion of the adult population remains underbanked. Revolut’s entry could therefore play a role in accelerating financial inclusion, competition and digital adoption within the country’s banking sector.
Regulation, consumer protection and digital payments
Revolut’s expansion also comes amid notable regulatory progress in Peru, particularly around digital payments and the development of open payment ecosystems. According to the company, pursuing a banking licence underlines its focus on consumer protection, regulatory alignment and sustainable operations.
Carlos Urrutia, Revolut’s Head of Expansion, highlighted that the company’s ambitions go beyond market entry:
“By seeking a full banking licence, we are not just entering a new market — we are committing to becoming a trusted and integral part of Peru’s financial ecosystem.”
Julien Labrot appointed CEO of Revolut Peru
The appointment of Julien Labrot as CEO of Revolut Peru reflects the company’s hybrid expansion model, combining global technology and infrastructure with local market expertise.
Labrot will be responsible for defining and executing Revolut’s local strategy, building a Peru-based team and working closely with regulators. Commenting on the appointment, he said Revolut’s goal is to deliver a world-class banking experience adapted to local needs:
“Our focus is to bring the best of Revolut to Peru while building a secure, fully compliant platform that genuinely serves both individuals and businesses.”
Localised products and talent hiring
Once the banking licence is approved, Revolut plans to gradually roll out a broad range of localised financial products and services, offering Peruvian consumers greater control over their finances through a seamless digital experience.
The company also intends to step up hiring efforts across Peru in the coming months. With its remote-first operating model, Revolut aims to attract top-tier talent from across the country and the wider region, promoting flexibility, inclusion and access to highly skilled professionals.
Part of a broader global ambition
Revolut’s planned entry into Peru forms part of its wider ambition to serve 100 million customers across 100 countries and generate $100 billion in annual revenue over the long term.
In 2024, the group reported:
- $4 billion in revenue
- $1 billion in profit
- $33 billion in total assets
- A valuation of $75 billion
With Peru added to its Latin American roadmap, Revolut continues to strengthen its international footprint and reinforce its position as one of the most influential players in the global fintech ecosystem.
