- UK digital bank Monument secures £40 million in Series B funding.
- Dubai Investments increased its stake in Monument from 9.25% to 16.93%.
- Monument’s total capital raised now exceeds £103 million.
- Monument aims to kick off discussions for Series C funding, targeting at least £100 million.
- Monument focuses on the mass-affluent segment, claiming to be the first digital bank in the UK.
- The bank has lent nearly £100 million within its first year of operation.
- Monument CEO Ian Rand reveals customer account balances averaging over £60,000, with savings exceeding £700 million.
- Funding will be used to move towards profitability and expand beyond the UK with new products and features.
