Europe’s most valuable privately held fintech posted a £106.5-million loss for 2019, more than triple its £32.9-million loss from 2018. (The Logic)

Talking point: Revolut increased its staff from 633 to 2,261 last year, while revenue jumped 180 per cent from £58 million in 2018 to £163 million. The hiring came as Revolut expanded into the U.S, Singapore, Australia and Canada. That growth helped it increase its number of paying customers by 139 per cent and daily active customers by 231 per cent. The firm plans to continue spending on staff growth, with plans to bring in more people in the U.K., France and the U.S. The firm makes money from transaction fees on travellers using its foreign-exchange service and was initially hard hit by the pandemic, but it’s been doing better recently due to an uptick in cryptocurrency and stock trading. So far, Revolut has added three million users in 2020.