Potential Xinja investors were told the company would surpass $100 million in profit within five years and expand globally, despite the fallen neobank’s losses multiplying since inception.
A confidential investor presentation, obtained by The Age and Sydney Morning Herald, made forecasts that Xinja would be in the black within two years and post $138 million in profit by fiscal 2026.
Xinja’s financial records show its losses have multiplied since it launched three years ago and auditors have consistently warned of insolvency risks. In 2018, the company reported a loss of $6.5 million, which subsequently increased by more than five-fold to $35.8 million this year. Read more…..
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Warren Buffett is the greatest investor of all time. His decisions about buying shares and companies have beaten the stock market year after year and made him the richest person in the world – thought to be worth 37 billion dollars.