Why Revolut hasn’t conquered India🇮🇳 yet? 🤔; France’s Crédit Agricole bets on payments giant Worldline 💸; Germany's unicorn profitability puzzle 🦄 🧩

FinTech is Eating the World, 22 January

Hey Everyone,

Good morning! Due to technical issues, we’re starting a new week today. But it is surely worth the wait as today we’re going to look at why Revolut hasn’t conquered India yet (status quo & challenges + bonus reads on how India’s disrupting payments globally & PhonePhe is building Indian Google), France’s Crédit Agricole that bets on payments giant Worldline (why it makes perfect sense & what’s next + a closer look at Worldline), and Germany's unicorn profitability puzzle (unsurprisingly surprising situation + some bonus reads). Let’s jump straight into the fascinating stuff 🌶

Why Revolut hasn’t conquered India🇮🇳 yet? 🤔

Zooming out 🔎 Revolut, Europe's largest neobank and one of the most valuable private companies in the continent, entered India with great fanfare in 2021, hoping to disrupt the digital payments market and launch a financial super app.

However, three years on, it barely achieved anything in the country while the company's grand plans seem to have been put on the backburner.

Let’s take a look at why Revolut hasn’t conquered India, what it means, and what’s next.