Losses swell at Revolut Ireland as fintech quadruples workforce

Company reported operating loss of €3.3 million in 2020, up from €169,000 the previous year

Founded in 2015, Revolut now boasts more than 16 million customers worldwide using its services for currency exchange and money transfers. Picture: Getty

Losses at Revolut’s Irish arm swelled significantly last year as the payments service grew its staff headcount due to a growing presence in Ireland.

Recently filed accounts for Revolut Payments Ireland show it recorded an operating loss of €3.3 million in the period up to December 31, 2020. The figure was up from €169,000 the previous year.

The company, which is awaiting an e-money licence from the Central Bank, grew its Irish staff numbers from ...