The company, founded in 2015, also narrowed losses marginally to £116.3 million .British fintech bank Monzo more than doubled its revenue last year and marginally narrowed losses to £116.3 million , according to results published on Wednesday.
The jump in revenue was in part driven by the bank's burgeoning lending business, with interest income surging to £164 million from £34.1 million a year earlier. Borrowing increased by 190% year-on-year to £89.7 million and the company was buoyed by higher interest rates and greater volumes of interchange.
Anil said that Monzo had been cash flow positive since October and claimed that full profitability, a key target for fintech banks, was in sight for the full year 2023.
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