6 years ago

Y Combinator to Lead £100 Million Funding Round for Monzo, Doubling Its Valuation

  • Monzo, a British challenger bank, is set to raise £100 million in a new funding round led by Y Combinator

  • This would nearly double Monzo's valuation to £2 billion

  • Monzo, though not a Y Combinator graduate, has ties to the accelerator through co-founder Tom Blomfield's previous startup, GoCardless

  • The deal signifies Y Combinator's commitment to supporting fast-growing companies within its alumni network

  • Monzo, with a growing U.S

  • presence and ambitions to launch in North America, continues to expand its reach globally.

      • ProblemFinancial Services

      "Traditional banks are slow and clunky, making it difficult for people to manage their finances and save money."

      Solution

      "Monzo is a mobile-first bank that offers a range of financial products, including current accounts, savings accounts, and debit cards, all designed to be simple and easy to use."

      Covered on