As Revolut Financials are still to be released, figures shows that Neo-banks struggle to show the sustainability of their business model.
● Last year Checkout.com cutted its internal valuation meaning that Revolut claimed the throne as the leading European startup, in terms of valuation.
● CEO Nik Storonsky claimed that the company is "cash-generating" and was profitable on 2021.
● That being said, Revolut’s long-awaited 2021 accounts missed its 31 December deadline to publish them, after it has filed for two extensions.
● Revolut’s figures have reportedly come under increased scrutiny, with the Financial Times reporting that accountancy firm BDO had its previous auditing of Revolut’s filings criticised as “inadequate” by the UK regulator.
