Revolut's Latin American Expansion: Explosive Growth in Mexico and Banking License Progress in Peru
Global fintech giant Revolut is aggressively accelerating its Latin American expansion, deploying a highly effective hybrid model that combines localized banking licenses with its mature, global technological infrastructure. In Mexico, this strategy has yielded explosive early results, while progress continues steadily toward full commercial operations in Peru.
Explosive Early Traction in Mexico
Following the official launch of its banking services in Mexico in January 2026, Revolut has achieved unprecedented customer acquisition velocity. By June 2026, in less than six months of operations, the neobank surpassed the 500,000-customer milestone.
To fuel this rapid growth and support the roll-out of new products, Revolut injected an additional USD 64 million in capital in June 2026. This brings its total capital commitment in Mexico to USD 167 million. This massive capital injection underscores the intensity of Mexico's digital banking battleground, where players like Nubank, Plata, and Mercado Pago are actively fighting for market share.
"Revolut, the British digital banking institution, reached 500,000 customers in Mexico less than six months after launching operations."
"The financial firm noted that this growth has occurred since the launch of its banking services in January 2026, and stated that this progress represents one of the fastest expansion trajectories within the Mexican financial system."
"The institution highlighted that it recently injected US$64 million in capital, bringing the total investment in its operations in the country to US$167 million." — MEXICONOW: Revolut hits 500,000 customers in Mexico
Progress in Peru
In parallel to its Mexican operations, Revolut is advancing its footprint in Peru. Following its Organisation Authorisation from the Superintendency of Banking, Insurance, and AFP (SBS) of Peru in April 2025, the company is actively setting up its local entity, Revolut Bank Peru. The final operational license from the SBS is anticipated to launch full banking services, making Peru its next major frontier as it builds out a comprehensive pan-regional presence spanning Brazil, Mexico, Colombia, Argentina, and Peru.