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2020 revenues rose 57% YoY at Revolut which is down significantly from prior growth periods and the neobank reported a $232m loss. Gross profits (which exclude customer onboarding) were up significantly, however, rising 300% YoY to c. $170m. Crypto asset windfalls of $50m+ helped results as well.
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“It’s a translation into numbers of the very good performance that we’ve seen in the year 2020 and basically is ultimately a validation of the business model and the strategy we have set out,” said Mikko Salovaara, CFO.
https://www.cnbc.com/2021/06/21/revolut-2020-annual-results.html
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