Monzo: Became UK’s second most valuable fintech

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Monzo: Became UK’s second most valuable fintech

Monzo: Digital challenger bank, became UK’s second most valuable fintech firm after the fresh funding round

  • Monzo founded in 2015 as an app with a pre-paid card that allows users to track their spending in real-time
  • After closing a £100 mn funding round, Monzo would double its valuation to US$2.5bn
  • Monzo set to overtake rival Revolut to become the UK’s second most valuable fintech
  • They secured £85 million in funding to take its valuation above £1 billion
  • Monzo reached ‘unicorn’ status, a start-up company valued at more than US$1bn
  • It is now looking to expand its services with the launch of a new ISA and the roll-out of small business accounts