NeoBanks Financial reports ( Revenue, Income, Losses and Profits)

I recently stumbled upon this article:

Neobank Fi records zero operating revenue in FY21 with a loss of over Rs 50 Cr Neobank Fi records zero operating revenue in FY21 with a loss of over Rs 50 Cr

Any one have in-dept reporting of other Neo Banks as well?

1 Like

Ofcourse, without any revenue model it is bound to happen. Jupiter and other Neobanks will be no different.
Banks main source of income is by providing credit/od/loans to end users but this is not the case with Neobanks at least yet.
Since Neo bank segment is at very nascent stage and unregulated, it would be very hard to predict the future.

Not sure if you know or not but all the major ecom (Flipkart, Amazon)entities are in loss as per the tax data they file.

https://community.jupiter.money/t/how-monzo-raised-20-million-from-36-000-of-its-users-jupiter-primetime/

The aspect of monetisation has already been discussed in a previous thread. Good insight.