Digital bank Revolut nets 1.3 million clients in Portugal

British Fintech Revolut, which has just set up an office in Portugal, is close to netting 1,300,000 clients in the country with a target to increase this figure to 1.5 million.

This is according to Revolut Portugal’s Managing Director, Rúben Germano who said that this did not include company clients, whose numbers the fintech declined to reveal, according to online news source ECO.

The digital bank, which is one of the main challengers to traditional banking, has announced a target to have a total of 1.5 million clients this year, a goal which will be backed up by a new publicity campaign currently underway, including TV advertising. “We have been increasing our investment in marketing”, he said.

In 2024, Revolut will also include Portugal in the list of countries that offers personal loans to clients. The product should be available in the second half of 2024, and it will be the first time that Banco Revolut will offer finance to clients in a “logic of transparency” and with “competitive interest rates” compared to the market

“We don’t want hidden bank charges, we want to be fair to our customers” said Revolut Portugal’s Managing Director, Rúben Germano.