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Report: Revolut eyes 5,000 headcount amid expansion into new markets

Revolut Ltd. plans to increase its total headcount to about 5,000 by the summer of 2020 after signing a deal with Visa Inc. that will allow the British digital banking firm to expand into 24 new markets, Reuters reported.

The deal, which expands an existing agreement between Visa and Revolut, will allow the latter to expand into Brazil, Japan, Russia and the U.S. by the end of 2019 and potentially double or triple its customers in the next year, the Sept. 30 report said, citing Revolut CEO Nikolay Storonsky. The digital firm also plans to launch in other Latin American and Asian markets in 2020, Storonsky added.

At least 75% of all Revolut cards will carry Visa branding as a result of the deal, which comes amid the digital firm's plans to transform into a global bank, Reuters said.