Revolut relocates its global headquarters to the financial district of London while it waits for a UK bank license.

• The YY London building in Canary Wharf has been leased by Revolut for a 10-year global headquarters.
• Revolut will expand its office space by 40% to 113,000 square feet, occupying four floors in the office.
• Revolut's bid for a banking license in the U.K. is still pending, as the announcement comes.

Revolut, a British financial technology company, announced on Thursday that it plans to relocate its official headquarters from London to Canary Wharf, the city's significant financial district.

The YY London building in Canary Wharf will become Revolut's new global headquarters, with the company signing a 10-year lease for the building.

Revolut will expand its office space by 40% to 113,000 square feet and occupy four floors.

Revolut plans to display its logo on two signs on the sides of the new building, similar to the trend of legacy bank brands such as , , and . However, the signs are still subject to planning permission.

By 2027, when its current lease expires, HSBC plans to relocate its world headquarters from its 45-storey Canary Wharf tower.

After the company announced plans to reduce global office space by nearly 40% to cut costs and accommodate the trend of hybrid working, it was followed by a series of changes.

London's financial hub, Canary Wharf, houses numerous global banks, insurers, and financial institutions.

Revolut's announcement comes as the digital banking startup awaits the outcome of its bid for a banking license in the U.K., which would allow it to offer lending products such as credit cards and personal loans.

Since 2021, the company has been waiting for approval from city regulators, including the Bank of England and the Financial Conduct Authority, to proceed.

Revolut's decision to establish a new global headquarters in the city center shows its dedication to the U.K. market.

Revolut's U.K. CEO, Francesca Carlesi, stated in a press release that the new head office reinforces the company's dedication to the UK, its home country, while also laying the groundwork for future expansion.

Nikolay Storonsky and Vlad Yatsenko, co-founders of Revolut and the company's global CEO and chief technology officer, respectively, had previously criticized the U.K. for having a regulatory environment they deemed too bureaucratic.

Revolut now has over 9 million customers in the U.K., despite previously committing to only growing its global workforce by 40% in 2024.

New ways of using office space

Employers are considering methods to persuade their staff to return to the office after the shift to remote work due to the Covid-19 pandemic.

Revolut has announced that it will maintain its remote-first approach, allowing employees to work from home, but encouraging them to visit the office for important in-person interactions.