Monzo Crosses 4 Million Customers Though Growth Slows

Monzo now had 4 million customers in the UK which equates to just over 1 in every 16 people in the UK; they are currently signing up 40,000 customers a week; the milestone comes 169 days after they crossed 3 million customers which as AltFi reports, means that customer growth is slowing; they went from 2 to 3 million in just 119 days; It is possible that the slower growth was related to marketing as Monzo previously ran a TV campaign before they crossed 3 million customers; in addition Monzo removed the ability to earn cash for referring customers; another possibility is increased competition from the likes of Starling Bank, Monese and Revolut. Altfi

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.