• Home
  • Events
  • Webinars
  • White Papers
  • Blog
  • About
Go to...
    LendIt News – Daily Fintech Industry News LendIt News – Daily Fintech Industry News


    • All News
    • USA
    • Europe
    • LatAm
    • China
    • Lend Academy
    Go to...
      Home»Europe » Monzo Reports £114M Loss With a Bleak Future Outlook

      Monzo Reports £114M Loss With a Bleak Future Outlook

      July 31, 2020
      Europe, Fintech
      Views : 211
      0

      Leading UK digital bank Monzo released its annual report yesterday and the numbers were not pretty; the company reported that in 2019 they lost £113.8 million and the fallout from the pandemic casts “significant doubt” on their ability to continue as a going concern; Monzo has 4,4 million customers but has suffered greatly from the pandemic particularly due to travel restrictions that has reduced revenue; the company is pinning its hopes on launching “powerful new products” that generate revenue; co-founder and president Tom Blomfield said, “Our focus right now is on becoming a sustainable company that’s here for the long haul.” Finextra.

      Tags : Coronavirus, digital bank, financial results, Monzo
      Share :
      • Facebook
      • Twitter
      • Linkedin
      • Email
      Next article
      PayPal Has Best Quarter Since IPO as Digital Payments Take Hold
      Previous article
      Awards Re-Launch: Nominations for the 4th Annual LendIt Fintech Industry Awards Open Until August 14th

      Leave a reply

      Click here to cancel reply.