Fintech Research

Sep

Is Chime a neobank or a software company?

Chime may turn out to be the neobank unicorn that proves the naysayers wrong. Following a mammoth Series F funding round that raised US$485 million, Chime’s valuation surged to US$14.5 billion from US$5.8 billion in December. The San Francisco-based neobank is now officially the world’s most valuable venture-backed fintech. Not…

Sep

Fintech Research

What Klarna gets right that most neobanks don’t

Neobank unicorns have a fundamental problem: Their business model is shaky. They prioritize customer numbers rather than profitability. It’s like an e-commerce vendor focusing more on site traffic than sales. Sweden’s Klarna is one of the few exceptions. It has generally been profitable since its 2005 founding, although it lost…

Sep

Fintech Research

Nubank lost US$17 million in H1, but it’s not worried

Among neobanks, there are those that lose money and then those that lose a lot of money. “A lot” is a relative term, but it is apt to describe some of the European neobank unicorns. The UK’s Monzo lost US$151 million in 2019 while Revolut only did a tad better,…

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