Monzo Raises £113M Doubles It's Valuation To £2B!

: June 25, 2019

Monzo Has Raised £113M AT A Whooping £2B Valuation, Becomes The 3rd Most Valuable FinTech In EU After TransferWise & OakNorth!

 

 

Monzo, a digital, mobile-only bank offering a current account with a well designed app and a hot coral Mastercard. It has jus secured £113M at a £2B ($2.5B) valuation. Which is doubled from it's previous £1B ($1.3B) valuation on Oct 31, 2018. The funding was led by Y Combinator along with it's existing investors General Catalyst, Accel, Thrive Capital and others.

 

With the lates round of funding Monzo now has a toal of £324.7M in funding to date. Also it's $2.5B valuation makes them the 3rd most valuable fintech startup in the EU, after TransferWise and OakNorth. TransferWise was valued at $3.5B on May 21, 2019, OakNorth has been valued at $2.8B when they raised $440M in a "Venture Round" funding on Feb 8, 2019.

 

Monzo has now more than 2 million people use our hot coral cards to manage their money and spend around the world. Around 40,000 people open a Monzo account every week. The company was founded in Feb 2015 by Gary Dolman, Jason Bates, Jonas Huckestein, Paul Rippon, & Tom Blomfield. With it's headquartered based in London, the company is coming to USA.

 

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