Clearbank reaches profitability YTD revenue 2022 #
ClearBank, the provider of secure accounts, real-time clearing, and Embedded Banking for financial institutions, has announced that it has reached profitability. The UK-based fintech bank generated £45.4m in revenue in the year to date and reached monthly profitability in October. The bank has nearly tripled its revenue for the year to date compared to the same period last year, and FY2021 was the second consecutive year that ClearBank’s revenue grew by over 100%. Growth has been driven primarily by increasing transaction volumes, new customers, interest income, and the launch of the bank’s new FX and multicurrency proposition. ClearBank now supports over 200 financial institutions, including Chip, Raisin, and Recognise Bank.