Revolut is in talks to acquire Turkish digital bank FUPS as it looks to launch its services in the country, according to people familiar with the matter.

The sources said no final decision has been made, and the fintech may still decide not to proceed with the acquisition.

Any deal would be subject to approval by Türkiye’s banking regulator, the Banking Regulation and Supervision Agency (BDDK), Bloomberg reported.

A spokesperson for Revolut said the company does not comment on “market rumours or speculation”, while FUPS declined to comment.

Revolut is led by billionaire founder Nik Storonsky and has around 70 million users globally.

In recent months, the fintech has been exploring expansion into new markets, including the Nordics and Mexico.

The company was valued at US$75 billion in November 2025, reinforcing its position as one of Europe’s most valuable start-ups.

FUPS is a relatively low-profile Turkish digital bank. It received its banking license in 2022 with a founding capital of 1.5 billion liras, equivalent to just over US$81 million at the time.

As of September, the bank employed 60 people, according to the latest data from the Turkish Banks Association.

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