Neobanks have raised the concerns of the public everywhere in Europe. Revolut, N26, Nickel, Starling, Monzo etc. are already known as key players in the industry. Most of them have succeeded massive fundraisings and are quite close to announce new capital injections in the press or the launch of new products and services.
Despite impressive customer acquisition (more than 1 million customers for N26, twice much for Revolut…) none of these mobile-only neobanks have reached sustainable profitability.
Neobanks are still cash-burner companies and even if many of them are generously funded by venture capitalist or established commercial companies, they need to evolve if they expect to stay alive and last as key players on the banking scene.
In this article we will check if Neobanks are equipped to stay or not.Read More