British fintech giant Revolut is preparing to launch in Morocco, with regulatory approval applications submitted to Bank Al-Maghrib signaling its imminent entry into North Africa’s digital economy. The move would make Morocco a key hub for the neobank’s Middle East and North Africa expansion.
Valued at around €41 billion and serving nearly 60 million customers worldwide, Revolut has already appointed its first Morocco country director and begun recruitment. The new executive, drawn from the international tech sector, will lead efforts to deliver advanced financial services tailored to Moroccan users via the company’s mobile-first platform.
Founded in 2015, Revolut has redefined European banking with instant account setup, zero-fee international transfers, multi-currency cards, and investment tools spanning stocks and cryptocurrencies. Free from legacy infrastructure, it operates entirely digitally, prioritizing user experience and transparency.
Morocco’s banking sector, while investing in digital upgrades, still faces gaps—especially for young professionals, freelancers, and urban millennials seeking affordable, flexible services. Analysts suggest Revolut’s zero-fee model and seamless mobile offering could rapidly win market share in this segment, intensifying competition and pushing incumbents toward faster digitalization.
The company’s robust financials underpin its expansion drive: revenues nearly doubled to €2.1 billion in 2023, with profits soaring to €400 million, giving it the strength to sustain bold market entries.
Having already entered South Africa, Morocco is seen as a strategic entry point for MENA operations, potentially reshaping local banking dynamics and consumer expectations. Final approval from Bank Al-Maghrib is now the last step before operations begin.
