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The banking startup Revolut has suffered a loss of $15 billion, which has caused its value to drop by 46%, leading many to draw parallels with WeWork's disastrous attempt to disrupt the property rental market. This downturn in fortunes is not unique to Revolut, as other neobanks such as Atom and N26 are also experiencing downgrades, and even the largest neobank, NuBank, is struggling to gain traction on the Nasdaq stock exchange with its market cap stuck at $23 billion and its share price hovering around $4. Despite having four times as many customers as Revolut and generating nearly five times as much revenue, the reality is that these fintech companies are beginning to face the harsh realities of the market. Is it time worry? submitted by /u/h113408 |