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Monzo sees losses double despite revenue bump

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Digital bank Monzo has more than doubled its pre-tax losses in the last year, according to the company’s annual report for 2019-2020, which was published on Thursday. The fintech saw losses grow to £115.4 million; 2 times the previous year, where it logged pre-tax losses of £50.7 million. AdvertisementIn terms of revenue, Monzo brought in £67.2m, a jump from 2018 when it brought in £19.7m. Monzo has also ramped up its lending efforts, lending out £124.7m last year, having only lent out £19m the previous year. Get the Sifted Newsletter ✓ Thank you for subscribing to the newsletter!

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