Revolut Acquires Banco Cetelem to Enter Argentine Banking Market
Revolut, the UK-based fintech super-app, acquired Banco Cetelem to establish a direct banking presence in Argentina in June 2025. Banco Cetelem, a subsidiary of BNP Paribas, provided Revolut with an existing banking license and operational infrastructure in the Argentine market. Rather than pursuing a de novo charter or operating through partner banks, Revolut opted to acquire an established bank to accelerate its market entry.
The deal enables Revolut to offer a full suite of regulated banking services to Argentine customers. This acquisition is part of Revolut's broader strategy to expand into Latin American markets, a region with significant underbanked populations and growing demand for digital financial services. Financial terms were not disclosed in available sources.
The transaction was identified as one of the top five fintech M&A deals of June 2025, highlighting the continued trend of large fintechs acquiring bank charters to reduce dependence on banking-as-a-service intermediaries.
- Continues the trend of large fintechs acquiring bank charters to gain direct regulatory footing, reducing reliance on BaaS sponsor banks.
- Signals intensifying fintech competition in Latin American markets, potentially pressuring regional BaaS providers and incumbent banks.