Revolut has acquired Cetelem Argentina, a consumer lending business currently owned by BNP Paribas Personal Finance, to enter the Argentine market.
The move signals the UK-based fintech’s continued expansion across Latin America, following earlier market entries in Brazil, Mexico, and Colombia.
The financial terms of the acquisition were not disclosed, and the transaction remains subject to regulatory approval.
With this acquisition, Revolut plans to introduce a suite of digital financial services tailored to local market demands, including multi-currency accounts, international transfers with no fees, and foreign exchange capabilities. These offerings are expected to target growing consumer demand for alternatives to traditional banking amid Argentina’s volatile economic environment.
Revolut targets growth amid Argentina’s fintech boom
For decades, Argentina has experienced cycles of inflation, currency devaluation, and economic instability. Although recent policy shifts under President Javier Milei have contributed to short-term economic stabilisation, local consumers continue to seek out financial tools that offer greater control and security, particularly those that facilitate access to the US dollar and enable real-time digital payments.
Revolut’s entry into Argentina will place it in direct competition with existing fintech players such as Mercado Pago, the financial services arm of MercadoLibre, as well as Ualá, another prominent local fintech. Mercado Pago, in particular, has become a dominant platform for daily financial transactions, including peer-to-peer transfers and mobile payments.
Revolut’s international expansion comes as the company continues to grow its global user base, which now exceeds 60 million customers. The company’s most recent valuation reached USD 45 billion, placing it on par with some of Europe’s largest traditional banks.
Argentina represents a key growth opportunity for Revolut, as the company seeks to strengthen its footprint in Latin America’s fast-evolving digital finance ecosystem. The region's rising smartphone penetration and demand for low-cost, app-based financial services make it an attractive market for global fintech players aiming to scale rapidly.
Pending regulatory clearance, Revolut is expected to begin operating in Argentina in the coming months, using the acquisition as a launchpad to deliver its digital banking services to one of the region’s most dynamic but complex economies.
