Monzo operates as a digital-only banking platform focused on providing a modern way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up transactions to the nearest dollar. Monzo generates revenue through interest on deposits, fees for certain services, and interchange fees from card transactions, as well as offering overdrafts and personal loans. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. The goal of Monzo is to provide a convenient, mobile-first banking experience that meets the needs of its growing customer base, which has surpassed 8 million users.

Blue Wire Capital

Passion Capital

Octahedron Capital

Thrive Capital

Orange Ventures

Crowdcube

Chris Haslam

Stripe

General Catalyst

General Catalyst Partners

Novator

Reference Capital

Accel

Vanderbilt University Office

Goodwater Capital

Kaiser Permanente Ventures

Y Combinator

Vanderbilt University Office of Investments

Latitude

Coatue Management

Aranit Cenalla

Klaus Nyengaard

CapitalG

Hedosophia

Abu Dhabi Fund for Development

HongShan

Tencent

Alpha Wave Ventures

Michael Moritz

Fintech

Financial Services

Monzo

While Monzo wants to go public, its leadership reportedly can’t agree on where to list.That’s according to a report Tuesday (Jan. 21) by the Financial Times (FT), citing sources who say that while CEO TS Anil is backing an initial public offering (IPO) in the U.S., the neobank’s board wants to list in Monzo’s home city of London.Sources say the FinTech, valued at $5 billion last year, is in preliminary talks with bankers as it works to become “IPO ready” before the end of the year.The company also hasn’t settled on a timeframe for an IPO and wants to be ready for the right market conditions, the sources said. One source said the IPO would be more likely to come in 2026, though Monzo is intent on having its governance and paperwork ready this year.PYMNTS has contacted Monzo for comment but has not yet gotten a reply.The FT report notes that the debate about where to list could potentially be bad news for the London Stock Exchange. Companies going public in the U.K. raised the lowest amount on record last year, the report said — citing data from Dealogic —amid worries about the British market’s liquidity and valuations.FinTech companies could turn things around, the report adds. Aside from Monzo, neobanks such as Starling and Revolut are expected to go public in the coming years

Monzo Ceo And Board Reportedly At Odds On Ipo Location

Leading digital bank Monzo today reveals new data showing it has blocked £9,000,000 in gambling transactions in 2024 alone – an 8% year on year rise since 2023 – since introducing new features to its gambling block. The industry-leading additions of a powerful note-to-self that appears when customers want to lift the block and an extensive range of cooldown periods are helping customers take control and build better money habits.The Gambling Commission recently revealed the UK has seen a 12% increase in gambling transactions to £1.46 billion in 2024. Meanwhile, over 70,000 Monzo customers are embracing the bank’s latest additions to the gambling-block with the average self-imposed cooldown period – the time between lifting the block and being able to gamble again – surging from three months to ten.At the heart of Monzo’s self-management feature is the deeply personal ‘note to future you,’ that appears when a customer is tempted to gamble again, giving them the opportunity to pause, reflect, and remember why they chose to stop gambling in the first place.More than 700,000 customers are using Monzo’s gambling block and since the introduction of self-serve features last year Monzo has seen:Over 70,000 customers embrace the self-serve additions75% of those customers are choosing cooldowns of over 48 hours41% of customers are opting for the maximum industry-first 12-month cool-down period20% rise in blocked gambling payments each month, jumping from £657,000 in 2023 to over £800,000 monthlyThe average cooldown period has surged from 3 months to 10 months8,500 customers are writing powerful notes to their future selvesYou can find out more on the gambling block, self-serve features and Monzo’s commitment to responsible banking here.Kate Graham, Vulnerability Manager at Monzo said: “By staying close to our customers, we build and evolve products and features like the Gambling Block that help them to transform their relationship with money. Hearing from them about the impact our latest additions to the tool have made is fantastic, even more so because so many customers are controlling the urge to gamble by reading notes they’ve written to themselves in the Monzo app and choosing longer cooldown periods than ever.”Raminta Diliso, Financial Harm Manager, GamCare: “Financial harm is a significant issue for many of the people we support, and tools like Monzo’s gambling block are an important part of tackling this challenge. It’s great to see banks offering these features, and we support the range of options Monzo provides to their customers. Longer cooling-off periods, such as the 12-month option, can play a crucial role in supporting recovery and helping individuals regain control over their finances

Do It For Future You: Monzo’S Game-Changing Gambling Block Stops Over £9 Million Of Gambling Payments In 2024 So Far

Monzo says it is taking its “mission into Europe in 2025", as it advertises for a string of roles in its new EU hub.The UK challenger bank appears to be nearing its EU launch, as it looks to roll out its brand beyond the UK and US.In Monzo’s 2024 annual report TS Anil, Monzo CEO, said:“We believe every part of the world needs a Monzo so we’re focused on expanding our offering, building strategies to disrupt the US with a first-class leadership team in place. “In Europe, Ireland will act as our gateway to European markets and we’re in the early stages of setting up an Irish office.”The report adds:“We’ve set our sights on Ireland as the destination for our EU base as we start laying the foundations for expansion across Europe.”In total, the coral-coloured UK challenger bank, which has more than 10 million customers and is now valued at $5.9 billion, is advertising for eight roles in its new Dublin hub, which will act as its corridor for its launch plans across the EU.These are director of treasury and capital; senior risk & controls manager; team assistant; EU people lead; lead recruiter; director of financial risk; director of operational & enterprise risk and regulatory affairs manager.The job specs give some insight into Monzo’s plans for the EU.The director of operational & enterprise risk role says: “Monzo Europe is an Irish-based subsidiary of the Monzo group which will, upon authorisation, be the base for Monzo’s expansion as a bank into the European Union.”The EU people lead role says “we are taking our mission into Europe in 2025” indicating the timing of its rollout, while the role also points to a Monzo EU CEO, saying the role will be “a strategic partner to the EU CEO”.According to LinkedIn, and the Monzo website, Michael Carney, a former European Stripe executive who was based in Dublin, took up this role in in September this year.Carney is understood to be heading up Monzo's push across the EU.The director of treasury and capltal role mentions a Monzo CFO Europe role, saying the role “will report to the chief financial officer, Monzo Europe, playing a critical role in Monzo’s overall effective and prudent risk management”.The spec for the regulatory affairs manager role specifies working with Irish and European regulators.The job spec says: “You’ll also work closely with our contacts at the Irish and European regulators (CBI- Central Bank of Ireland and ECB- European Central Bank) and support the wider regulatory affairs team with engagement with other relevant regulators (PRA-Prudential Regulation Authority and FCA-Financial Conduct Authority), responding to information requests, preparing for meetings and submitting regulatory submissions."According to the Irish Times, Monzo has been working extensively with the Central Bank in Dublin, as it looks to garner an Irish banking licence, which it can use in Ireland and passport across the EU.The newspaper also says that Monzo has also been engaging with the European Central Bank.According to the Business Post, Monzo has pumped €4m into its Irish entity.Monzo has existing Irish links, Irishman Conor Walsh heads up its US operations while Nicola O’Brien, the former CFO of Irish financial services firm PTSB, is rumoured to be joining Monzo.The ECB declined to comment when asked if Monzo had applied or received a banking licence. Monzo declined to comment

Monzo Takes Its “Mission Into Europe In 2025”

Monzo has appointed two new CFOs, including one with experience of listing a challenger bank on a stock market. The UK challenger bank has appointed Tom Oldham, a former finance executive with Brazilian challenger bank Nubank who helped oversee its 2021 IPO in the US, as its new group CFO. Monzo has also appointed Mark Newbery, a Barclays veteran, as its new UK CFO

Monzo Appoints Two Cfos Including One With Ipo-Experience

In 2024, European tech companies secured more than €74.4 billion across over 3,700 deals. When compared to a year before, this figure is higher by approximately 10 percent (€67.6 billion secured in 2023). This indicates a positive shift in investor sentiment or market conditions for European tech. Despite this increase, the 2024 total remains about 30 per cent below the peak of €101.2 billion in 2022.Although many of the largest deals in 2024 focused on debt financing for the construction of gigafactories (e.g., Northvolt, Stegra, ACC), others were directed towards R&D and seizing global growth opportunities.For a more comprehensive review of topics including investments, geographic region performance, industry performance, top M&A and exit activities, and much more, check out Tech.eu’s annual report “European tech 2024: The big picture”.Now let’s have a look at the 24 European tech companies that raised the most in 2024.24. Poolside (France)Amount raised in 2024: $400 millionPoolside.ai is a company focused on developing advanced AI models for software engineering. It offers a customizable AI solution that integrates directly with your codebases and business practices, fine-tuning to create proprietary models that continuously improve developer productivity.The company's foundation models, such as Malibu, and tools like code completion engines, are designed to accelerate software development securely and privately, ideal for regulated industries.In 2024, the company secured $400 million which will be used to accelerate the company's growth, improve its technology and expand its marketing activities.23

24 European Tech Companies That Raised The Most In 2024

Leading digital bank Monzo today announces the appointments of Tom Oldham as Group Chief Financial Officer, subject to regulatory approval, and Mark Newbery as UK Chief Financial Officer. The appointments further strengthen Monzo’s executive team as the business continues to grow and scale, making strides on its ambition to become the one app customers use to manage their entire financial lives.As Group CFO, Tom will oversee the overall financial strategy, global financial operations, investor relations and financial planning for the entire organisation. Mark, as UK CFO, will focus on financial strategy, control, performance and balance sheet management specific to its UK operations. They join at an incredibly exciting time for the business as it grows at pace and powers forward with expansion plans in the US and Europe.2024 has been a year of significant growth and milestones for Monzo. Highlights include:1 in 5 UK adults and 1 in 16 businesses now bank with Monzo, with the company serving more than 11m total customersAchieving its first full year of profitability, following a year of record growth with revenues up 2.5x and an 88% increase in deposits in the last financial yearIncreasing the company’s valuation twice this year, most recently as part of an employee secondary sale which took it to $5.9bn (£4.5bn)Multiple successful product launches over recent months such as Monzo Pension, Monzo for Under 16s, new subscription plans and a trio of industry-first security featuresPlans to expand into Europe via a gateway in Ireland and continued expansion in the USTom brings extensive experience in driving growth and innovation, having most recently served as Chief Investment Officer at Mombak, a fund manager focused on generating carbon credits. Prior to that, he was part of Nubank’s leadership team as the Global Head of FP&A and other areas of finance during a transformative period of hypergrowth and Nubank’s IPO

Monzo Announces New Group Cfo And Uk Cfo

Monzo Bank has been accused by the UK antitrust watchdog of breaching four areas of retail banking rules, including misinforming customers about the true levels of service quality and account charges.

Monzo Bank found to have breached UK banking regulations

Leading digital bank Monzo today announces that it has over 500,000 business banking customers and launches a new plan for bigger small businesses called ‘Team’. The new plan gives business owners more control over managing their finances and saves them from endless expense admin.Team, banking for bigger small businesses, done the Monzo way:Expense cards: Business owners can effortlessly oversee employee expense spending by selecting team members and setting limits. Employees get their own transparent blue Monzo expense card and save their receipts, reasons for expenses and VAT all in the Monzo app.Bigger teams: Limited companies can have up to 15 team members on their Team business account and set what individual team members can see and do. Business owners can choose whether team members are admins, collaborators or expense card holders.Bulk payments: Business owners can approve multiple payments in one go – including for payroll and suppliers. This means they don’t have to copy across individual payment details or approve each and every payment separately if they don’t want to.Payment approvals: Limits on payments outside of expenses and easy approvals from business owners when payments are over the set limit.Much loved features: Team includes all the features from the Lite and Pro plans including automated tax payments, accounting integrations with Xero, Quickbooks and FreeAgent, the ability to send invoices in a couple of clicks in the app to get paid, instant notifications, 24 hour customer support and more.One in six new UK companies apply for a Monzo Business account and it’s Britain’s most recommended business account for overall service quality as voted for by customers. Expanding its offering with Team means Monzo can now go even further to help more businesses take control of their finances and better serve existing business customers as they grow

Monzo Tops 500,000 Business Customers And Launches ‘Team’ – A New Plan That Solves Pain Points Of Bigger Small Businesses

Monzo have partnered with SignLive, an online interpreting service for British Sign Language (BSL). This means BSL users can now chat with Monzo customer support team through a fully-accredited interpreter, in real time, using video relay services.One in five people in the UK are Deaf or hard of hearing. And for many, BSL is their first language, not English. BSL has its own structure and vocabulary, which can mean that for some people, switching to English can be difficult or even impossible.SignLive is a a Deaf-owned, Deaf-led business, that’s removing communication barriers for the community through accessible technology and services. Since launching in 2014, SignLive now has over 118 highly-skilled interpreters that partner with UK businesses to help their customers communicate with them in their first language. All of their interpreters are trained in anti-fraud and safeguarding measures.How it worksTo access SignLive’s free services, you can download the app on any iOS or Android device

Monzo Partners With Signlive To Enable Bsl Support

Monzo closed a $400 million funding round in spring 2024, with investors valuing the UK challenger bank at $5 billion. Previously, Monzo secured $500 million at a $4.5 billion valuation in late 2021. The article explores the largest fintech investments of 2024 and the focus areas of the top-funded fintech companies.

Monzo secures $400M in 2024 funding

Neobanks have gained momentum with the promise of helping consumers shift their financial lives fully online — with digital onboarding, speedier account openings and competitive rates on deposits and other offerings — in direct competition with traditional omnichannel financial institutions (FIs). Those same attributes are being leveraged by the digital-only players to attract smaller businesses, particularly where there have been some gaps left by FIs. But challenges and risks remain. The potential of the small- to medium-sized business (SMB) market is vast. In the U.S. alone, there are more than 33 million smaller businesses in operation, as estimated by the U.S

Neobanks Navigate Smb Market Potential And Regulatory Risks

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