Revolut FUPS acquisition talks gain attention as the UK fintech eyes Türkiye’s growing digital banking sector. Sources confirm Revolut holds discussions with Turkish neobank FUPS to enter the market. No final deal exists yet, and regulators must approve any agreement.
Early Stage Discussions
Revolut pursues talks to acquire FUPS and start operations in Türkiye. People close to the matter say the fintech might drop plans anytime. Türkiye’s Banking Regulation and Supervision Agency (BDDK) oversees approvals for such moves.
Company spokespeople stay quiet. Revolut calls reports “market rumors,” and FUPS offers no response. This approach fits standard practice in early acquisition stages.
Company Backgrounds
Revolut runs under founder Nik Storonsky with 70 million users across the globe. It hit a $75 billion valuation in November 2025 via employee share sales. The firm recently targeted markets like the Nordics and Mexico.
FUPS operates as a small Turkish digital bank. It earned its license in 2022 with 1.5 billion liras in capital, equal to over $81 million at the time. Turkish Banks Association data shows 60 staff as of September 2025.
Expansion Strategy
Revolut builds a team for Türkiye. It hired Erkin Aydin as country director and Eren Cicek for strategy and operations last year. These steps show clear plans for a market with 85 million people and high digital use.
The approach matches Revolut’s history of six buys in four years, including Swifty in October 2025. Buying a licensed bank like FUPS speeds up entry over starting fresh. Türkiye stands as the world’s 16th-largest economy with fintech potential.
Local banks still depend on branches despite digital shifts. This gap opens doors for new players. Revolut focuses on strong execution in user service and pricing to succeed.
Market Context
Türkiye draws global fintechs with its young population and mobile habits. Digital banking grows fast, but rules remain strict. BDDK approval takes time and scrutiny for foreign buyers.
Revolut brings experience from 35-plus countries. Its app offers banking, crypto, and transfers that appeal to tech-savvy users. FUPS provides the local license needed to compete. Observers watch if talks advance. A deal could reshape Türkiye’s fintech scene and boost Revolut’s global reach. Outcomes depend on negotiations and oversight clearance.
