EDBI Investment Supports Revolut’s Push to Build Asia Operations From Singapore

Revolut plans to triple its local workforce as Singapore becomes its regional anchor for Asia expansion

Revolut has announced plans to deepen its operations from Singapore as part of a broader strategy to expand across Asia, supported by a strategic investment from EDBI. While financial terms were not disclosed, the move is backed by the Singapore Economic Development Board and signals a longer-term commitment to building regional capabilities from the city-state.

The expansion comes as Revolut, which serves more than 70 million retail customers globally and is valued at around US$75 billion, looks to scale both product development and operational capacity in Asia. Singapore is expected to play a central role in this strategy, acting as the company’s regional base for innovation, engineering, and talent.

Revolut said it plans to triple its Singapore-based workforce over the next three years, after already doubling headcount between 2024 and 2025. The hiring push will focus on roles across product development, engineering, data, and artificial intelligence, reflecting the company’s emphasis on building core capabilities rather than just sales or market-entry teams.

For policymakers and investors, the expansion highlights Singapore’s continued appeal as a base for global fintech companies looking to access Asia’s diverse and fast-growing markets, while operating within a stable regulatory and business environment.

Investing in Talent: 

Alongside its hiring plans, Revolut is also focusing on building a longer-term talent pipeline. The company has introduced its Rev-celerator internship and graduate programmes in Singapore, aimed at drawing early-career talent from leading universities and institutions around the world.

Selected participants will have opportunities to rotate or relocate to Revolut offices in:

• The UK
• Poland
• The UAE
• Spain (for graduate hires)

According to the company, the aim is to build globally experienced teams while supporting skills development and knowledge transfer within Singapore’s broader tech ecosystem.

Driving Expansion Across Asia

From its Singapore base, Revolut will coordinate expansion efforts across multiple Asian markets. This includes the recent launch of a Global Tech Hub in Manila, described as a strategic extension of the company’s global network to support growing international operations.

Revolut said it is also actively evaluating entry into additional markets across the region, underscoring a phased approach to Asia that prioritises operational readiness and local capability building over rapid, fragmented expansion.

What EDBI’s Investment Signals

EDBI operates under SG Growth Capital, the investment platform of EDB and Enterprise Singapore, and focuses on backing high-growth global technology companies that are scaling in Asia. Its investment in Revolut Singapore reflects confidence not only in the fintech’s business model, but also in Singapore’s role as a regional hub for advanced fintech development.

Commenting on the move, Raymond Ng, CEO for Singapore and Southeast Asia at Revolut, said:

“EDB’s longstanding commitment to building Singapore into a global innovation and fintech hub – along with its expertise, guidance, and extensive network – has been invaluable to our growth journey.

EDBI’s investment in Revolut Singapore will further enable us to accelerate innovation, scale our regional footprint from Singapore, and deliver inclusive, accessible, and trusted financial services to customers across the region.”

Victor Stinga, Revolut’s chief financial officer, added that the investment reinforces the company’s long-term plans in Asia, strengthening its ability to invest in product capabilities and build resilient regional operations.

A Broader Trend in Fintech Expansion 

Revolut’s expansion plans highlight a broader shift in how global fintech companies approach Asia. Rather than treating individual markets in isolation, firms are increasingly choosing a single regional base from which to manage product development, compliance, and regional strategy. Singapore has emerged as a preferred location for this role due to its regulatory stability, deep talent pool, and proximity to fast-growing Southeast Asian markets.

For fintech companies scaling across Asia, the challenge is no longer just acquiring users, but building systems that can operate reliably across multiple regulatory and market environments. This has increased the importance of centralised product, engineering, and data teams that can support regional rollouts while maintaining consistency and risk controls.

In this context, EDBI’s investment in Revolut Singapore signals a long-term alignment rather than a short-term capital injection. By backing the company’s decision to expand its technical and product capabilities locally, the state-backed investor is reinforcing Singapore’s position as a control centre for regional fintech operations.

For Revolut, anchoring core teams in Singapore reflects a view of Asia as a key growth engine rather than an experimental market. For Singapore, the move underscores its continued relevance as competition intensifies among regional hubs seeking to attract global technology firms building for Asia at scale.

Quick Takeaways

• EDBI’s investment signals long-term commitment, positioning Singapore as Revolut’s regional base rather than just a local market.
• Revolut plans to triple its Singapore workforce, focusing on product, engineering, data, and AI roles to support Asia-wide operations.
• Talent development is a core part of the strategy, with new internship and graduate programmes aimed at building a global pipeline while strengthening Singapore’s tech ecosystem.
• Singapore continues to attract global fintechs as a regional hub, offering regulatory stability, skilled talent, and access to fast-growing Southeast Asian markets.
• The move reflects a broader fintech shift, where scaling operations and infrastructure now matters as much as customer growth in Asia.