Revolut is continuing to build out its regional presence as it assembles a UAE-based team ahead of a broader market entry.
The London-headquartered fintech is advertising new roles across compliance, risk, and senior commercial leadership, including a Head of Marketing and Growth. The hiring push is being led by Ambareen Musa, who is overseeing Revolut’s regional expansion.
The recruitment drive follows Revolut receiving in-principle approval for a UAE payments licence in September 2025, a key regulatory milestone that would allow it to offer payment services to retail customers. While the payments licence provides an initial foothold, a full banking licence in the UAE remains a longer and more complex process.
Alongside its UAE plans, Revolut is also reported to be in discussions to acquire FUPS, a move that would accelerate its entry into the Turkish market. People familiar with the matter said no final decision has been made and there is no certainty that an acquisition will proceed. Any transaction would be subject to approval by Turkey’s banking regulator, the BDDK.
FUPS is a relatively small Turkish digital bank offering fintech services. It received its banking licence in 2022 with founding capital of 1.5 billion Turkish liras, equivalent to just over $81 million at the time. As of September, the bank employed around 60 people, according to data from the Turkish Banks Association.
Spearheaded by founder and CEO Nik Storonsky, Revolut has grown to approximately 70 million users globally and has been actively evaluating new markets, ranging from the Nordics to Mexico. In November, the company was valued at $75 billion, reinforcing its position as one of Europe’s most valuable technology startups.
Industry observers note that Turkey presents both opportunity and complexity. Tomasz Noetzel, senior industry analyst at Bloomberg Intelligence, said Revolut’s potential entry would intensify competition in a market where digital capabilities are already advanced, but where incumbents still rely heavily on branch-based distribution. He added that successful execution would be critical to differentiation beyond pricing and user experience.
