Will the
third time be the attraction? Revolut has obtained one other extension to its 2022
monetary report. For the British fintech firm, delaying the discharge of its
income and value information is nearly changing into a convention. The corporate solely
printed its 2021 ends in March 2023.
In accordance
to info from British Corporations Home, Revolut Ltd was initially
imagined to publish its outcomes on August 30, however this date was moved to
September 13. The neobank additionally failed to satisfy this deadline. Reuters discovered that
the corporate has been granted one other extension to delay the publication.
“We
have obtained an extension for the submitting of our 2022 accounts. We glance ahead
to asserting our 2022 audit and annual report in the end,” commented a
spokesperson for Revolut to Reuters.
Valued at
$33 billion, Revolut and its funds have stirred appreciable controversy.
Though the corporate achieved profitability for the primary time in 2021, the
report took two years to be launched. The doc indicated that for 2022, the
firm is projecting income of $1.05 billion, representing a rise of 30% in comparison with the 12 months earlier than.
Moreover,
BDO LLP, the auditors, acknowledged that they may not objectively confirm as a lot as
75% of the corporate’s income, estimated at $765 million. All of this has led to
growing skepticism from regulators, and the corporate is struggling to acquire
a banking license in the UK. Within the meantime, it has been
completed by a few of its rivals, together with the fintech agency Adyen.
If Not the UK, Then
Australia or the US?
Whereas the
firm operates as a cost establishment within the UK, it holds a banking license
acquired in Lithuania for its operations in most of Europe. Going through obstacles in
securing authorization within the UK, Revolut introduced plans in Could to acquire a
license in Australia, the place it had additionally launched accounts for companies.
A number of
months later, it was revealed that Revolut was pursuing a banking license
in america. Finance Magnates this week investigated whether or not
Revolut will formally enter the US market. Regardless of varied challenges,
Revolut has some benefits that would support its US market entry, comparable to its
status as a disruptor within the monetary trade.
This might
appeal to People searching for options to conventional banks. Revolut’s historical past
of introducing progressive options like Bitcoin buying and selling and budgeting instruments might
enchantment to a tech-savvy clientele.
Will the
third time be the attraction? Revolut has obtained one other extension to its 2022
monetary report. For the British fintech firm, delaying the discharge of its
income and value information is nearly changing into a convention. The corporate solely
printed its 2021 ends in March 2023.
In accordance
to info from British Corporations Home, Revolut Ltd was initially
imagined to publish its outcomes on August 30, however this date was moved to
September 13. The neobank additionally failed to satisfy this deadline. Reuters discovered that
the corporate has been granted one other extension to delay the publication.
“We
have obtained an extension for the submitting of our 2022 accounts. We glance ahead
to asserting our 2022 audit and annual report in the end,” commented a
spokesperson for Revolut to Reuters.
Valued at
$33 billion, Revolut and its funds have stirred appreciable controversy.
Though the corporate achieved profitability for the primary time in 2021, the
report took two years to be launched. The doc indicated that for 2022, the
firm is projecting income of $1.05 billion, representing a rise of 30% in comparison with the 12 months earlier than.
Moreover,
BDO LLP, the auditors, acknowledged that they may not objectively confirm as a lot as
75% of the corporate’s income, estimated at $765 million. All of this has led to
growing skepticism from regulators, and the corporate is struggling to acquire
a banking license in the UK. Within the meantime, it has been
completed by a few of its rivals, together with the fintech agency Adyen.
If Not the UK, Then
Australia or the US?
Whereas the
firm operates as a cost establishment within the UK, it holds a banking license
acquired in Lithuania for its operations in most of Europe. Going through obstacles in
securing authorization within the UK, Revolut introduced plans in Could to acquire a
license in Australia, the place it had additionally launched accounts for companies.
A number of
months later, it was revealed that Revolut was pursuing a banking license
in america. Finance Magnates this week investigated whether or not
Revolut will formally enter the US market. Regardless of varied challenges,
Revolut has some benefits that would support its US market entry, comparable to its
status as a disruptor within the monetary trade.
This might
appeal to People searching for options to conventional banks. Revolut’s historical past
of introducing progressive options like Bitcoin buying and selling and budgeting instruments might
enchantment to a tech-savvy clientele.
