Facebook Forms a New Financial Unit; Revolut Losses Triple Despite Rising Revenues; AmEx in Talks to Acquire Kabbage

Weekly FinTech Digest | Week 33

This week (10-14 August) was yet another interesting week in FinTech this year. Social media giant Facebook has formed Facebook Financial (F2) in another bid to capture digital payments & commerce; Revolut has released their 2019 results. Losses more than tripled to $139.4 million (2018: $43M) despite revenues climbing 180% to $212.8 (2018: $76M); Ameri…