Digital banking app Revolut reported revenues of £636.2 million

Digital banking app Revolut reported revenues of £636.2 million - Check out in detail

[{"selector":"#anim-69a49d16-9d35-471d-8329-4f7e4f2fc5f9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.895150878010666%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Digital banking app Revolut reported revenues of £636.2 million ($766.9 million) in 2021, three times what it made the previous year, and swung to a net profit of £59.1 million. Arrow

For 2022, Revolut gave a trading update saying it expects revenues to have grown more than 30% to £850 million.

[{"selector":"#anim-983d567b-d793-4f00-900a-390c6dfd872f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.21412264138041%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Arrow

[{"selector":"#anim-4b449039-543e-4c0e-bbed-dbe3762e9091 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Revolut was late to producing its accounts to U.K. company register Companies House in time for a Dec. 31 deadline. Arrow

[{"selector":"#anim-0c27bc14-6222-454a-8e13-12a8a2c57bae [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Revolut’s announcement is a rare positive piece of news in a fintech market that has been plagued by mass layoffs and huge valuation cuts as investors reassess the space amid worsening macroeconomic conditions. Arrow

Klarna, the Swedish buy now, pay later fintech, saw its valuation plunge 85% to $6.7 billion last year.

[{"selector":"#anim-2e1a882e-e423-4da6-ab96-a5db56980d89 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.25246699150385%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

Revolut reportedly faced concerns from U.K. regulators over the robustness of its internal financial controls.

[{"selector":"#anim-567d15e3-7f0e-4c35-bf75-bd50d07946db [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.816424527732513%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Arrow

[{"selector":"#anim-d416d01c-8204-477f-af03-47ab63e7d6e2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.25267845767055%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The company, which has no physical branches, offers digital banking, money transfers, and cryptocurrency and stock trading through a single app. Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

[{"selector":"#anim-f3a27a56-9bf9-4cff-92b6-62658679ef7e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.812499744007886%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow SWIPE UP