Report: Revolut Builds New Commercial Real Estate Lending Business Unit
Revolut is reportedly entering the commercial real estate lending business.
The United Kingdom-based FinTech appointed M&G Investments veteran Duncan Batty to build the new business unit, Bloomberg reported Tuesday (Jan. 28), citing an unnamed source.
Reached by PYMNTS, a Revolut spokesperson said in an emailed statement: “As Revolut continues to grow, we remain committed to identifying and pursuing new opportunities that drive our business expansion and innovation.”
Lower interest rates are expected to drive a recovery in the U.K. commercial real estate market this year, reversing a decline caused by the impact of the pandemic and economic uncertainty, according to the Bloomberg report.
This news follows some other expansions Revolut has made in its business.
It was reported Jan. 14 that the company was recruiting leaders for a new private banking department that will focus on individuals with over $1 million in liquid assets.
Listings on Revolut’s careers page at the time showed that it was recruiting a head of relationship management, a legal counsel and a compliance manager, each of which would be focused on areas like investment products, private banking and wealth management.
In December, Revolut said it applied for a banking license from the Reserve Bank of New Zealand, aiming to provide banking services in the island nation, where it already provides other services to customers.
Revolut launched in New Zealand in 2023 and had processed more than 350 million New Zealand dollars (about $198 million) by December 2024.
The company also plans to offer its customers in the U.K. new trading products and features, it said in November.
Its receipt of a U.K. trading license from the Financial Conduct Authority made Revolut Trading an authorized investment firm, allowing it to improve the user experience and introduce U.K. and European Union stocks and exchange-traded funds.
Revolut already operated its trading feature as an appointed representative with a principal in the U.K. beginning in 2019, allowing it to offer an investment service through its app and enable retail customers to buy and sell shares listed in the United States. The firm already had more than 650,000 U.K. trading customers.
The post Report: Revolut Builds New Commercial Real Estate Lending Business Unit appeared first on PYMNTS.com.