Monzo expands fundraising to £500m in deal with top tech investors that includes Singapore’s Government Investment Corporation (GIC) and Hedosophia, an early investor in Airbnb and Uber, Sky News learns.
The larger-than-expected round makes it one of the largest ever achieved by a British tech company. Monzo’s expanded fundraising is likely to mean that it will not require any further capital if it decides, as expected, to go public in the next couple of years.
The digital bank, which has millions of customers in Britain, recently secured a valuation in excess of £4bn after concluding the initial phase of its funding round.
Founded in 2015, Monzo now ranks as the seventh-biggest bank in Britain by number of customers.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
