News for hackers. Stuff that matters.

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 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...

[ Parent | on HN ]
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?

[ Parent | on HN ]
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.

[ Parent | on HN ]
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

[ Parent | on HN ]
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.

[ Parent | on HN ]
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

[ Parent | on HN ]
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.
[ Parent | on HN ]