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> Is Revolut offering lower but less sustainable costs to attract more customers? Revolut broke even on monthly bases in December 2017[1], and Monzo was still

by krn 7y ago

> Is Revolut offering lower but less sustainable costs to attract more customers? Revolut broke even on monthly bases in December 2017[1], and Monzo was still loosing money in April 2019[2]. [1] https://www.reuters.com/article/us-fintech-revolut/fintech-revolut-britains-first-digital-bank-to-break-even-idUSKCN1GA021 https://www.reuters.com/article/us-fintech-revolut/fintech-r... [2] https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despite-not-turning-profit-9132030/ https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despit...

TazeTSchnitzel 7y ago
Interesting. Maybe Revolut's paid accounts work out well for it or it's able to earn profit from certain services.
- deleted 7y ago
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easytiger 7y ago
This is the second post that you've made that isn't true. Revolut is not profitable. It reports an operating loss. What's your reason for such inaccurate information?
- krn 7y ago
  > Revolut is not profitable. It reports an operating loss. It reported an operating loss for 2017, because it stopped losing money on monthly basis only in December 2017.
  - easytiger 7y ago
    > It reported operating loss for 2017, because it stopped losing money on monthly basis only in December 2017. What are you talking about? That's gibberish. It lost about £15million in 2017
    - krn 7y ago
      > It lost about £15million in 2017 If a company was losing money for the first 11 months out of 12, that's an expected result.
      - easytiger 7y ago
        > If a company was losing money for the first 11 months out of 12, that's an expected result. I dunno what you think you are trying to achieve. Revolut is not profitable
        deleted 7y ago
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