Monzo, the UK’s largest bank, has recently announced that it has secured an additional 0 million (£150 million) in funding. This latest influx of capital adds to the 0 million (£340 million) funding round that was completed earlier this year, bringing the total raised in this round to an impressive 0 million (~£500 million).
The 0 million investment came from a mix of new and existing investors, with Capital G and Alphabet’s independent growth fund once again backing the company. This new funding has propelled Monzo to a post-money valuation of .2 billion (£4.1 billion), signaling confidence in the company’s business model and future prospects.
Monzo’s CEO, TS Anil, expressed excitement about the continued support from global investors and emphasized the company’s dedication to putting customers first. He also hinted at upcoming products and ambitions that will benefit from this latest injection of capital.
The funds raised will be used to fuel Monzo’s expansion plans after a successful year of growth that saw the company achieve profitability, attract a large number of new customers, and introduce new products to its offering. With this additional funding, Monzo is well-positioned to continue its growth trajectory and deliver even more innovative financial solutions to its customer base.
