European fintech players are bracing for market consolidation

When Monzo published its latest annual revenue figures in February, it provided a flicker of light after months of headlines about fintech down rounds and job cuts. The accounts showed that the UK digital bank was now profitable with a net operating income of £214.5 million (€249mn). The news will cheer up Monzo after seeing its valuation cut during the pandemic but for some of its peers in Europe the challenges of the macroeconomic environment still loom large.  A rumoured acquisition by Monzo of Nordic rival Lunar, the neobank backed by Will Ferrell and last valued at over $2 billion…

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