Revolut plans to pitch itself to FTSE 250 businesses, aiming to poach corporate clients from rivals such as Barclays and HSBC as part of an aggressive expansion into business banking. James Gibson, the head of Revolut Business, has set his division the target of securing 1mn business customers globally by 2027, as the UK's biggest fintech tries to expand outside its core retail banking services. Revolut has 800,000 business customers and 75mn customers across the world at present. Gibson told the FT that Revolut's billionaire founder and chief executive Nik Storonsky believes corporate banking is a key growth opportunity.

"We always kind of see ourselves as the little brother to the Revolut [retail] product in that we live in the shadow of this incredibly successful product . . . but we think there's tons more potential, as does Nik," he said. Revolut staff receive a £1,000 bonus every time they refer a business customer. The group's business division accounted for 16 per cent of Revolut's £4.5bn revenues recorded in 2025, up 53 per cent on the previous year.

"For a lot of banks, business banking will be more like half their revenues if not more and we know we are only scratching the surface in terms of the customers we have and the penetration we have," said Gibson, who has led the division since it was founded in 2017. Revolut Business provides current accounts, payments services, and corporate debit cards to clients such as Booking.com and the fitness company Barry's Bootcamp. But the division has struggled to attract larger clients because of its lack of a banking licence, which has prevented the company from providing the credit products that most large companies require.

Revolut in March secured a full banking licence after a near five-year tussle with regulators at the Bank of England. Revolut is planning to proceed carefully with lending, said Gibson, adding that the company was also hiring from large banks with big corporate banking divisions. "You can't just go 'bang' . . . you've got to have credit underwriting models and you need knowledge to do that," he said. "That's why we don't want to do anything crazy, we want to learn from the best and build out in a sustainable way." The push to attract larger clients will require Revolut to lure clients away from the big four UK lenders — Nat West, Lloyds, HSBC and Barclays — which have substantial balance sheets and longstanding relationships with the UK's biggest businesses. Revolut had total assets of £43bn at the end of last year.