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Neobank mercury says it has hit $650m in annualized revenue, up from $500m by end of 2024, and has been gaap profitable on net income and ebitda for three years x This largely routes back to the technology infrastructure upon which the neobank is built. @blader @alexanderwill @johnrushx @rahulvohra @immad @nikmilanovic linkedin:
Sacra estimates that mercury hit $500m in annualized revenue in 2024, up 97% yoy, with revenue primarily coming from interest sharing with partner banks The longevity of neobank profitability hinges on its strategies to foster innovation, reduce costs, and mitigate risks and threats to its business For more, check out our full report and dataset on mercury.
In this article, we’ll explore the most critical neobank industry statistics, uncovering the trends, challenges, and opportunities that shape this dynamic market.
Simon kucher, an international consulting firm with deep experience in financial service, has published a report on neo banks around the world Some of the news is good — there are 10 neo. Neobanks in particular face increased pressure from investors to demonstrate how they can turn their popularity into profits With that context, let’s examine how neobanks can diversify their revenue streams.
Before we can analyse revenue, we must first understand the profound cost advantage that underpins the entire neobank proposition
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