Revolut's losses tripled in 2019, but its user base nearly did too - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Revolut attributed losses to investments in expanding geographic presence and product offerings, which should position it for success in the long term

Despite incurring losses — and facing challenges presented by the coronavirus pandemic — Revolut saw impressive growth across other metrics:

Revolut's users nearly tripled in 2019 to 10 million, up from 3.5 million in 2018. Daily active customers grew 231%, and the number of paying customers grew by 139%, according to Revolut founder and CEO Nik Storonsky. And Revolut's user deposits hit £2.2 billion in 2019, up from £1 billion at the end of 2018, while its revenues grew 180%.

Revolut also reported maintaining that momentum in 2020 despite some pandemic-related challenges — as of the end of July, it has nearly

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside Sunrun strategy to provide clean power from customer batteries - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside Equifax's cloud migration and digital transformation strategy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Revolut: Fintech unicorn triples revenue and losses amid customer boom - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Hey, take a quick look at my Twitter, please thanks
Source: BusinessInsider - 🏆 729. / 51 Read more »

Business Insider Subscription - Sign up TodayAs a BI subscriber, we’ll take you inside the companies you care about, industry analysis on new trends, and important interviews and info you can’t afford to miss. Subscribe now for up to 50% off your annual subscription
Source: BusinessInsider - 🏆 729. / 51 Read more »

Nearly 1 million Americans plan on flying to Florida for Labor Day - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. You know what, so be it. NOBODY CARES UP ER UP
Source: BusinessInsider - 🏆 729. / 51 Read more »