Evolution has successfully closed a new €120 million funding round, backed by several well-known fintech investors. The funds will be directed toward product development, licensing expansion, artificial intelligence capabilities, and the rollout of new payment services including card-to-card transfers and real-time salary access.

Fintech analysts note that Evolution’s rapid growth echoes early trajectories of Revolut and Wise. With more than 500,000 users already onboarded, Evolution is positioning itself as Europe’s next major digital-banking challenger.