Global newsletter: Focused fintech tailwinds should bring profitability

Global newsletter: Focused fintech tailwinds should bring profitability

Time Stamp: May 31, 2023 12:14 PM
Source Node: 2115470

The following is an excerpt from today’s Global Newsletter.

For the second time this week, we can take time to celebrate some good news in the lending space, as Monzo reported monthly profitability for the first time.

CNBC reported, “In its annual report for the year ending February 2023, Monzo reported net operating income of £214.5 million ($266.1 million), almost doubling year-over-year from £114 million.”

We’ve recently celebrated earnings and growth from several LatAm fintechs, and now we’re seeing solid reporting across the pond.

As these trends tend to flow, we’ll see a shift to the U.S. soon enough (notwithstanding the micro economy that Taylor Swift has already generated through her Eras tour), so this news bodes very well for the end of this year and into 2024.

Nubank team at their IPONubank team at their IPO

From Fintech Nexus

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  • John K. WhiteJohn K. White

    John has been in communications since graduating from Creative Communications at Red River College Polytechnic in Winnipeg in 1992. He launched one of Canada’s first digital-only local news sites called Winnipeg First in 2007, which led to digital editor postings with the Winnipeg Free Press and Edmonton Journal. In 2012 he joined Bankless Times as managing editor, later becoming president and CEO. He and the Bankless Media co-founders completed a sale and exit in August 2021.

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