British fintech Revolut has quietly begun rolling out its providers in India as a part of a managed beta program forward of a broader launch, marking a major milestone in its years-long effort to enter the nation’s fast-growing digital funds market.
Revolut began taking signups for its India app earlier this 12 months, and a few customers who joined the waitlist have been having access to its providers over the previous few weeks, TechCrunch has discovered. The corporate confirmed the rollout and mentioned a couple of thousand clients in India are already utilizing the platform.
The rollout marks a major milestone in Revolut’s years-long effort to enter India, a serious digital funds market the place the federal government-backed Unified Funds Interface (UPI) has remodeled how shoppers and companies transfer cash. UPI accounts for nearly half of global real-time payments transaction quantity and processed a record 23.2 billion transactions value ₹29.9 trillion (round $313.8 billion) in Could, per Indian authorities information.
A Revolut spokesperson informed TechCrunch that the corporate is at present “within the managed onboarding of waitlisters” and {that a} beta model of its app, localized for Indian customers, is obtainable by the Google Play Retailer and Apple’s App Retailer.
“That is being achieved in an effort to collect suggestions on core product functioning and improve the general buyer expertise and the worth proposition earlier than opening up the platform for a bigger viewers,” the spokesperson mentioned.
The rollout is at present restricted to a small subset of the corporate’s roughly 450,000 waitlisted customers.
Customers within the beta program can entry UPI funds, e-money wallets, home pay as you go playing cards, multi-currency playing cards, digital playing cards, and disposable playing cards, the corporate mentioned. Revolut plans so as to add its Way of life and RevPoints choices earlier than increasing the rollout. Household, or joint, accounts — accessible in a few of Revolut’s abroad markets — won’t be provided in India as a result of such merchandise require a banking license, the corporate mentioned.
Revolut has been building its India business since 2021 and employed fintech government Paroma Chatterjee to guide its native operations. In 2022, the London-headquartered firm acquired Arvog Foreign exchange to strengthen its regulatory presence within the nation and provide remittance and multi-currency account providers. It later secured a pay as you go fee instrument (PPI) license from the Reserve Financial institution of India, permitting it to difficulty pay as you go playing cards, help digital wallets, and combine with the UPI community.
The corporate informed TechCrunch that it plans to open the app to direct onboarding of all customers within the “close to future” however declined to supply a selected launch timeline. Chatterjee had beforehand said in a LinkedIn publish that Revolut was focusing on a full product launch in India in Q2.
Revolut is focusing on India’s rising base of digitally savvy shoppers because it seeks to problem incumbent banks and fintech corporations in one of many world’s best monetary providers markets. The corporate has beforehand mentioned it goals to serve greater than 150 million “globally aspiring, digitally native” Indians aged between 25 and 45, with a aim of onboarding about 20 million customers by 2030 and processing not less than $7 billion in transactions.
Client curiosity in Revolut has been constructing forward of its broader India launch. In keeping with Sensor Tower estimates shared with TechCrunch, Revolut’s app has been downloaded almost 820,000 instances in India because it grew to become accessible in app shops. Greater than a 3rd of these downloads occurred in 2025 and the primary months of 2026.
Whereas Revolut’s largest markets by app downloads stay in Europe, led by France, the U.Ok., Spain, Italy, and Germany, the corporate has more and more regarded to rising markets for progress. Sensor Tower estimates downloads in Thailand and Vietnam grew 40% and 52%, respectively, in 2025, whereas downloads in Brazil surged 487% 12 months over 12 months to 1.8 million, highlighting the significance of markets equivalent to India to its long-term enlargement technique.
If you buy by hyperlinks in our articles, we might earn a small fee. This doesn’t have an effect on our editorial independence.
