BankingBusinessFinTech

UK challenger Monument Bank completes £40m Series B raise, eyes more funding

  • 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.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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