The figures come from Monzo’s annual report which outlined a number of statistics showing the bank’s growth strategy is paying off....
UK digital bank Monzo is nearing completion of a new funding round that will add 20 to 30 million British pounds in capital for the firm; the investment round is being led by Thrive Capital; sources also report that the firm is planning an equity crowdfunding campaign later in the year; Monzo is led by CEO Tom Blomfield and the firm was granted a UK banking license in August 2016; it currently has 100,000 users with activity driven by pre-paid Mastercards and mobile applications; the firm recently declined an acquisition offer from an incumbent bank and says it still has a lot it plans to accomplish. Source
UK based Digital Bank Monzo is planning a crowdfunding round to give customers a greater share of ownership; the round will look to raise between $13mn and $40mn; while they will use the round for hiring it is meant to provide customers “a genuine sense of ownership”; the crowdfunding round follows the recent $94mn private equity backed fundraising. Source.
UK based digital bank Monzo has raised a $143mn series F round as the company gets set to launch in...
The FT is reporting that leading UK fintech bank Monzo is close to agreeing to a funding deal that will...
More than 113,000 people in the UK switched their bank accounts in the month of March, the third highest amount...
Tom Blomfield of Monzo was recently interviewed on City A.M.’s Unregulated podcast; Blomfield said that he has been approached by big banks and tech companies and that the firm receives a takeover offer every month. Source
The Daily Telegraph reports that the challenger bank is hiring executives to lead its product and marketing arms in the...
A valuation of between £3bn and £4bn is anticipated, marking a significant jump for the neobank.
Leading UK digital bank Monzo released its annual report yesterday and the numbers were not pretty; the company reported that...