Chinese gaming and social media company Tencent Holdings Ltd has taken a small stake in Britain’s Monzo as part of a fundraising, the digital bank said on Friday, just weeks after it fetched a valuation of $4.5 billion, according to Reuters.
Monzo did not disclose details of Tencent’s stake, but Sky News earlier on Friday reported that the Chinese firm was investing a minority of a $100 million capital injection, citing a source close to the process.
Founded in 2015, Monzo is a high-profile neobank with 5,8 million customers but has struggled to turn a profit, with annual losses widening last year as it disclosed it was facing a potential civil and criminal money laundering probe.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
