Revolut buys money transfer company Arvog Forex for undisclosed sum

The acquisition will strengthen Revolut's foundation in India and accelerate its plans to offer its remittance service and forex services to Indian customers

Revolut India, the Indian registered entity of UK-based fintech Revolut, announced the strategic acquisition of international money transfer company, Arvog Forex as part of its multi-million dollar investment into the country. The financial details of the deals were not disclosed.

Paroma Chatterjee, Revolut India head, in a recent interaction with Business Standard had stated that the company will launch its services in the second half of this year and was also open to looking at acquisition in the Indian fintech segment as it eyes for digital banking license.

The acquisition will strengthen Revolut’s foundation in India and accelerate its plans