Jun 3, 09:35 AM

UK Neobanks Bunq and Monzo Make Strides in Fintech Industry: £880M Revenue, 9.7M Users, £15.4M Profit, £11.2B Deposits, Dublin Hub, 2024 Financial Results

European neobanks Bunq and Monzo are making significant strides in the fintech industry. Bunq, valued at $1.8 billion, aims to expand into the UK by securing a license. Meanwhile, Monzo, a UK neobank, has achieved its first full-year pre-tax profit, breaking even for the first time and eyeing EU expansion with a Dublin hub. Monzo's financial results for 2024 show £880 million in revenue, a £15.4 million pre-tax profit, 9.7 million users, and £11.2 billion in deposits, marking a turnaround from a £116.3 million loss in 2022. The company's customer-centric approach and resilience have positioned it as the 7th largest UK bank by customer numbers, serving 1 in 6 UK adults.

#Bunq #Monzo #UK #EU #Dublin

Written with ChatGPT (GPT-3).