Its safe to say Monzo is not having a good couple of weeks. On 30th July the company issued a PR which saw £114.8 million in pre-tax losses* last year according to the company’s annual report for 2020–2021.
The company saw a similar loss rate the year prior, and insisted it was now on track to be profitable by 2022. Revenues grew 18% to £66 million.
Nonetheless, for the second time, Monzo’s accountants said there was “material uncertainty” over the company’s future. They raised a “going concern” warning in the 2019 financials too, saying there