Revolut has announced it broke even in November this year.
In Brief:
-
CEO Nik Storonsky told CNBC that business has picked up significantly since the beginning of the pandemic.
-
The company had previously broken even in December 2018.
-
Storonsky says the FinTech is “50% ahead in terms of revenues compared to pre-Covid levels”.
What does this mean?
Revolut, like many others, was initially impacted by the uncertainty brought on by Covid-19 and saw revenues drop by 40%, but along with much of the FinTech ecosystem has now recovered and is seeing more stability.
