As was rumored last month Monzo has confirmed it has closed a new £60 million round of funding at a...
UK digital bank startup Monzo has listed a new crowdfunding campaign on Crowdcube and is seeking to raise 2.5 million British pounds ($3.09 million) as part of a broader fundraising for a total of 22 million British pounds ($27.18 million); Business Insider provides details on growth plans outlined in the crowdfunding campaign; Monzo is currently showing a seven year plan to an initial public offering which will include an estimated 75 million British pounds ($92.67 million) in new capital in the next five years; Monzo says it will raise capital again in May 2018 and it expects to report a profit after 2020; the firm has been granted a banking license and will begin offering deposit accounts as well as overdraft lending which it expects to help improve profitability. Source
UK digital bank Monzo is reportedly laying off 120 staff due to the challenges of the current economic situation; this...
Though Monzo has seen a share of issues and outages recently the company says the third party marketplace is core to their vision; they also explained it was a key part of their revenue drive and will help to drive down costs per customers in the near future; Monzo have plans to expand product offerings, potentially launch in the US and build out partnerships in the near and mid term future. Source.
Many staff members at the challenger banks are working from home with Starling and Revolut opting to split staff between...
Monzo is taking action to be sure they will get through the current challenges related to COVID-19; the company currently...
Digital only banks Monzo, Starling Bank and Monese have all see some benefits from fellow digital bank N26 deciding to...
This week, we put on the Goldman hat and go shopping for companies. We buy a little bit of Folio and sell some Motif. We look at Personal Capital and the $1 billion it wants for its $12 billion of assets. We examine the private markets with Addepar / iCapital and SharesPost / Forge, and then move over to the banking sector. Should we buy Wells Fargo, as rumored, or some digital wallet apps? Read on for how to acquire a best-in-class Fintech.
Banks have started to use their customers as product developers as the look to make the banking experience more personalized;...
Last night in London the banking community in the UK came together for the annual British Bank Awards; Starling Bank...