London, England headquartered Revolut has said that it will invest $13 billion in the next decade. The company that began with two desks at Level39 in the Canary Wharf neighborhood has recently taken four floors in the 14-storied YY building in the same business district, and the new global headquarters was declared “open for business” by Chancellor of the Exchequer Rachel Reeves.

Revolut has invested £3 billion in the UK to create 1,000 new jobs as well as for its new global headquarters in London over the next five years according to Nik Storonsky, CEO and co-founder Revolut.

Stroronsky also said that the fintech currently serves more than 65 million customers globally and the firm will invest $13 billion across the world to reach its next milestone of 100 million customers. 

The $13 billion global investment includes a previously announced $500 million outlay in the US and a commitment of $1.2 billion in its hub in France. The company has not furnished details about the remaining countries where it will invest to increase its global presence.

The investments are expected to be in Mexico, Peru, Philippines, Saudi Arabia, and South Africa, and may include existing markets such as Australia, Brazil, India, Japan, Colombia, Argentina, New Zealand and Singapore.

Revolut has not as yet secured a full banking license in the UK. It has a “mobilization phase” license. This means that it has to comply with guardrails from regulators. After receiving a full license the fintech will be able to supply its customers with overdrafts, loans and savings products similar to traditional banks.

When Revolut gets a full license it will provide stiff competition to traditional British giants such as Barclays PLC and HSBC Holdings PLC. With recent investments and expansions, CWEB analysts believe that Revolut will soon offer full banking services in the UK in the recent future and in other countries in the following years.