Revolut is rolling out services to thousands of users in India ahead of a wider launch

British fintech Revolut has quietly begun rolling out its services in India as part of a controlled pilot program ahead of a broader launch, marking a milestone in its years-long effort to enter the country’s fast-growing digital payments market.

Revolut started taking sign-ups for its app in India earlier this year, and some users who joined the waitlist have been able to access its services over the past few weeks, TechCrunch has learned. The company confirmed the launch and said that a few thousand customers in India are already using the platform.

The launch marks a major milestone in Revolut’s years-long effort to enter India, a key market for digital payments where the federal government-backed Unified Payments Interface (UPI) has transformed how consumers and businesses move money. UPI accounts for nearly half of global real-time payments transaction volume and processed 23.2 billion transactions worth 29.9 trillion Indian rupees (about $313.8 billion) in May, according to Indian government data.

A Revolut spokesperson told TechCrunch that the company is currently “waiting lists” and that the beta version of its app, localized for Indian users, is available through the Google Play Store and Apple App Store.

“This is done in order to collect feedback on the performance of the core product and enhance the overall customer experience and value proposition before opening the platform to a larger audience,” the spokesperson said.

The rollout is currently limited to a small subset of the approximately 450,000 waitlist users.

Users in the pilot program can access UPI payments, e-wallets, local prepaid cards, multi-currency cards, virtual cards, and disposable cards, the company said. Revolut plans to add Lifestyle and RevPoints offerings before expanding the rollout. Family or joint accounts – available in some of Revolut’s overseas markets – will not be offered in India as such products require a banking licence, the company said.

Revolut has been building its business in India since 2021 and has appointed fintech executive Paroma Chatterjee to lead its local operations. In 2022, the London-headquartered company acquired Arvog Forex to strengthen its regulatory presence in the country and offer multi-currency account and transfer services. It later obtained a Prepaid Instrument (PPI) license from the Reserve Bank of India, allowing it to issue prepaid cards, support digital wallets and integrate with the UPI network.

The company told TechCrunch that it plans to open the app to all users in the “near future” but declined to provide a specific timeline for the launch. Chatterjee had previously said in a LinkedIn post that Revolut was targeting a full product launch in India in the second quarter.

Revolut targets India’s growing base of digitally savvy consumers as it seeks to challenge incumbent banks and fintech companies in one of the world’s most competitive financial services markets. The company previously said it aims to serve more than 150 million “globally ambitious and digitally native” Indians between the ages of 25 and 45, with a goal of onboarding about 20 million users by 2030 and processing at least $7 billion in transactions.

Consumer interest in Revolut is growing ahead of its wider launch in India. According to Sensor Tower estimates shared with TechCrunch, the Revolut app has been downloaded nearly 820,000 times in India since it became available on app stores. More than a third of those downloads occurred in 2025 and the first months of 2026.

While Revolut’s largest markets in terms of app downloads remain in Europe, led by France, the UK, Spain, Italy and Germany, the company is increasingly looking to emerging markets for growth. Sensor Tower estimates that downloads in Thailand and Vietnam increased by 40% and 52% respectively in 2025, while downloads in Brazil rose 487% year-on-year to 1.8 million, highlighting the importance of markets like India to its long-term expansion strategy.