Revolut losses triple - 2020 Annual report

Looks like Monzo isn’t the only fintech to see their losses grow this past year.

There’s been a lot of chatter on the forum that Monzo should look closer at how Revolut is working it’s product. Including crypto, paid accounts, share dealing and otherwise.

It’s interesting to see that even though Monzo has only just launched it’s paid account, Revolut have had their losses grow almost proportionally to Monzo’s in the same period.


well looks like Starling are the only ones doing well with their £53M loss to November (?) they all appear to be in the same boat unfortunately , survival of the deepest pockets ??


Surely people are missing the bigger picture? Yes, Revolut and Monzo are loss making but it’s all about growth and potential at the moment. I mean, that’s why investors keep throwing money at them. Yes, Starling are potentially profitable sooner but their scope is quite a bit smaller.


I think Monzo and Revolut had / have the same strategy …growth at any cost , and think / hope the revenue will follow , in a post covid world - and Starling took the more cautious ? sensible ? approach , revenue first and then growth, as Ive said before not sure how the BBLs will work out for Starling along side the potential losses involved in that project.

It seems you could almost substitute Monzo or Starling in the article , “revenue this year / next year …hopefully , investor pressure to generate profits, doubled / trippled losses for this year … another loss making year …but more and more customers …” the articles seem to write themselves


Revolut’s revenue increased to £162.7m
Monzo’s revenue increased to £67.2m

As a side note, subscription income rose almost 200% to £39.5m for Revolut. They’ve really captured that segment of the market.

Amazing difference in revenue by Revolut. Storonsky told the FT in May that it still expects to break even this year;

@equalityforall I’ve just moved your comment into this thread to keep everything relating to their annual report in one place.


do you not think that 12m Revolut customers would generate more revenue than Monzo 4.5m ?

£13.50p per customer for Revolut
£14.88p per customer for Monzo …

pretty similar


3 posts were merged into an existing topic: Removed Posts - August 2020

Tripling losses is blowing you away?


I see Ian is about to add to the topic. Sorry, “Tom’s Relative”, as is his official title.


not quite sure why you always need to bring up the fact that I am Toms Uncle , but hey ho if that floats your boat in your anti Monzo posts :man_shrugging:


UK fintech remains confident about outlook and says it is on track to break even this year


well its not Monzo losses , so its OK … to be blown away by how good it is …to triple your losses :slight_smile:

Meanwhile, despite Revolut having diversified its revenue streams, over 60% of its income still comes from interchange fees: the 0.2% cut its takes from customers using their debit card. This is likely to leave revenues for the year ahead impacted by the lockdown.

Revolut are riding waves from strength to strength while monzo seems to be completely wobbling on its last legs. monzo blame covid for their potential failure. I don’t see Revolut, Starling, Chime bank, N26, Nubank or Tide trying to make up excuses. I see them executing their business plan

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Ive flagged you again - Im sick of you attacking my nephew, with your libellous comments, taking every opportunity to try and run somebody down doesnt make you look good - Im still waiting for any proof you have of your previous assertions concerning him as well - but I know you won’t have any , but rather than retracting them as the better person or providing your proof to back up the lies you continue the unfounded statements :man_shrugging:


Monzo losses nearly double:

Revolut losses nearly triple:

Lmao. Go away, troll.


I commend your positivity, having such a confident outlook on things is rare these days.

Just a couple of points that I saw in the article that maybe you missed.

  1. Triples losses

Popular London fintech Revolut recorded post-tax losses of £107.4m last year, despite strong growth in customer numbers and revenues.

The five-year-old company more than tripled its losses from 2018, which stood at £32.8m, according to the company’s annual report for 2019.

  1. Misses target

That falls just shy of predictions it would triple yearly revenues in 2019[, targeting £180m in sales.]

  1. Smells like redundancy

His statement today also said he was focused on “reducing our operational costs” for the year ahead.

  1. Poor US numbers

not least because it’s still unclear if growth into areas like the US will pay off, with downloads there looking slow.

  1. Losing staff. Can’t attract staff.

The company has also struggled with a fast turnover of executives. It is currently appointing the chairman of its UK bank division to boost its application prospects, and is yet to fill its chief operating officer post.

  1. Not being very honest about the future

Revolut made only fleeting mention to the impacts of coronavirus in the report.

  1. Trouble ahead?

over 60% of its income still comes from interchange fees: the 0.2% cut its takes from customers using their debit card. This is likely to leave revenues for the year ahead impacted by the lockdown.

Maybe my glass is just half empty. Easy for you to have missed those points though if you’re just skimming.


They made an excuse to leave the UK market :man_shrugging: .