Revolut is expanding into India

Revolut has tapped Paroma Chatterjee, a former executive for Indian start-ups Flipkart, Via.com and Lendingkart, to lead its operations in the country.

Revolut will invest about $25 million into the Indian market over the next five years and aims to launch its app there by 2022.

With a population of 1.3 billion people and growing acceptance of digital payments, India would be a huge market for Revolut.

Read more: CNBC