Revolut Offers Staff £1,000 Bonuses in FTSE 250 Banking Push

Revolut plans to pitch business banking services to FTSE 250 companies, the Financial Times reported today (Wednesday). It is going after corporate clients of Britain's largest banks.

Employees receive £1,000 (about $1,355) whenever they refer a business customer. Revolut Business has 800,000 clients and aims to reach 1 million globally by 2027, according to the report.

The division generated £708 million of revenue in 2025, 53% more than a year earlier. Moving into listed mid-cap companies would give it access to larger deposits, payment flows and borrowing needs.

UK License Opens the Door to Corporate Lending

Revolut Business has gained traction among companies with five to 50 employees but has yet to establish a meaningful position with larger corporate clients, division head James Gibson told the FT.

Its business product includes current accounts, payment services and corporate debit cards. Booking.com and fitness company Barry's Bootcamp are among the clients named in the report.

Credit was missing. Larger companies typically expect working-capital facilities and other lending products alongside payments and cash management.

That changed in March. The Prudential Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term Authority (PRA) lifted restrictions on Revolut's UK banking license, ending a process that began with an application in 2021 and included restricted authorization from July 2024.

Revolut is taking a cautious approach to lending and hiring staff from banks with established corporate operations. "You can’t just go ‘bang’ . . . you’ve got to have credit underwriting models," Gibson said.

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No timetable was given. Revolut will need credit underwriting and lending capacity to compete with NatWest, Lloyds, HSBC and Barclays, which have larger balance sheets and longstanding corporate relationships.

Revolut has reached 75 million customers across 40 countries. Gibson said founder and Chief Executive Nik Storonsky views corporate banking as a growth opportunity for Revolut.

Gibson also expects technology to help the business unit repeat some of Revolut's retail growth. Corporate customers, however, add underwriting, approval and servicing requirements that do not apply to a payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term-only relationship.

Digital Rivals Built Around Smaller Businesses

Revolut's planned sales push differs from the original focus of Britain's other digital banks. Monzo introduced Business Lite and Business Pro in March 2020 for sole traders and limited companies, later growing to more than 380,000 business clients by early 2024.

Starling launched its mobile business account in March 2018 for small companies and entrepreneurs. By May 2020, it reported 155,000 business accounts and a 2.6% share of UK SME banking.

Both products won operating accounts from smaller firms. Selling to FTSE 250 groups requires credit underwriting, treasury services and relationship coverage at a different scale.

Revolut Business accounted for about 16% of Revolut's £4.5 billion in 2025 revenue. Transaction volume reached £277 billion, up 56% from 2024, according to Revolut's annual report.

The unit's contribution remains below the level Gibson associates with established banks. He told the FT that business banking can produce half or more of a bank's revenue, although reporting structures differ across lenders.

Total assets stood at £43 billion at the end of 2025. Revolut's balance sheet is much smaller than those of the four established banks identified as its main UK corporate rivals.

Revolut has not identified any FTSE 250 prospects or set a timetable for corporate lending. It also has not disclosed how many of the 200,000 customers needed to reach its 2027 target are expected to be larger companies.

Gibson has led Revolut Business since Revolut founded the division in 2017.