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A comment on Y Combinator invests in Monzo through its Continuity Fund. Parent comment

Re:Y Combinator invests in Monzo through its Continuity Fund by TazeTSchnitzel on Tuesday June 25, 2019 @09:43AM (#20274056)
Is Revolut offering lower but less sustainable costs to attract more customers?

Monzo's approach, if they are to be believed, is to try to make charges cover their costs but be small, fair and simple.

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Re:Y Combinator invests in Monzo through its Continuity Fund by krn on Tuesday June 25, 2019 @09:59AM (#20274215)
> Is Revolut offering lower but less sustainable costs to attract more customers?

Revolut broke even on monthly bases in December 2017[1], and Monzo was still loosing money in April 2019[2].

[1] https://www.reuters.com/article/us-fintech-revolut/fintech-r...

[2] https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despit...

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Re:Y Combinator invests in Monzo through its Continuity Fund by easytiger on Tuesday June 25, 2019 @10:12AM (#20274357)
This is the second post that you've made that isn't true. Revolut is not profitable. It reports an operating loss.

What's your reason for such inaccurate information?

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Re:Y Combinator invests in Monzo through its Continuity Fund by krn on Tuesday June 25, 2019 @10:41AM (#20274667)
> Revolut is not profitable. It reports an operating loss.

It reported an operating loss for 2017, because it stopped losing money on monthly basis only in December 2017.

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Re:Y Combinator invests in Monzo through its Continuity Fund by easytiger on Tuesday June 25, 2019 @10:47AM (#20274740)
> It reported operating loss for 2017, because it stopped losing money on monthly basis only in December 2017.

What are you talking about? That's gibberish. It lost about £15million in 2017

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Re:Y Combinator invests in Monzo through its Continuity Fund by krn on Tuesday June 25, 2019 @11:10AM (#20275013)
> It lost about £15million in 2017

If a company was losing money for the first 11 months out of 12, that's an expected result.

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Re:Y Combinator invests in Monzo through its Continuity Fund by easytiger on Tuesday June 25, 2019 @11:28AM (#20275196)
> If a company was losing money for the first 11 months out of 12, that's an expected result.

I dunno what you think you are trying to achieve. Revolut is not profitable

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Re:Y Combinator invests in Monzo through its Continuity Fund by TazeTSchnitzel on Tuesday June 25, 2019 @10:08AM (#20274308)
Interesting. Maybe Revolut's paid accounts work out well for it or it's able to earn profit from certain services.
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