With US $64M in April, digital bank Revolut has invested $167M in Mexico in less than half a year

The digital bank Revolut invested 1.12 billion Mexican pesos (US $64.47 million) in its Mexico operations last month, bringing its total investment in Mexico since launching full operations in January to US $167 million, the company announced Tuesday.

Revolut, founded in 2015 in London as an app for travelers, now operates as a digital bank in 40 countries. It offers free remittances from and to the United States and other countries, a service popular among Mexican consumers. 

Revolut ad at airport
Revolut’s expenditures in Mexico include advertising in some creative spaces. (Revolut Mexico/Facebook)

The company’s total assets increased by 275% in the first quarter of 2026, with deposits totaling 3.753 billion pesos ($218 million), just nine weeks after its public launch. More than 290,000 customers were registered on its Mexico app by the end of March. 

“The response from Mexicans has exceeded our ⁠expectations,” Revolut Mexico CEO Juan Guerra said. “Clearly, there is a strong appetite for a banking app that offers everything in one place: attractive returns, a credit card, instant transfers within and outside of Mexico, investments and much more.”

Revolut posted a quarterly net loss of 153 million pesos, which aligns with its initial operating phase and expansion strategy in Mexico. 

The company reported a coverage ratio that stood at 1.531% in terms of liquidity, which is above the regulatory minimum and marks an increase compared to the previous quarter. Meanwhile, its capitalization ratio reached 141.6%.

Virtually all (99.98%) of Revolut’s loans are classified as Stage 1, which means they are “low risk.” The loan portfolio in this category rose by 44 million pesos (US $2.6 million), with more than 12,000 active credit card customers at the end of March.

In the announcement, the firm emphasized the strong environment of competition between traditional banks and digital finance platforms in Mexico, both of which are vying for users and resources.

Digital banks have become more popular among consumers in recent years thanks to the enhanced accessibility to financial services that they offer, as well as the wide range of products, including credit cards, interest-bearing accounts and debit cards. Other digital banks currently operating in Mexico include Hey, Openbank and Plata. 

With reports from Reuters and El Universal

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