Competition9 Jan 2021 23:59
Having had a look at the competition, especially the ones mentioned in the sharetalk interview with the Exec chairman:
1. Monzo - mcap 1.2b
2. Revolute- mcap 5.5b
There is some serious upside here, especially with the rise of Bitcoin, with Mode allowing easy transaction of purchasing Bitcoin and getting a yield on your investment. This has proving record numbers of customers to the platform, which will only keep compounding as the business develops, especially with the introduction of android very soon.
Furthermore, the average held within monzo/revolute is ÂŁ300 whereas within Mode its 10x that at 3k allowing huge growth.