7 years ago

Challenger bank Monese raises $60M to expand its mobile-first banking services.

  • Monese, a UK-based challenger bank, has raised $60 million in Series B funding

  • The round was led by Kinnevik, with participation from PayPal, Augmentum Fintech, and International Airlines Group

  • Monese provides a mobile-only current account targeting customers with limited credit history or who are new to a country

  • The funding will be used to scale the business and expand into new markets.

      • ProblemFinancial Services

      "Traditional banks make it difficult for people with a thin credit file or who are new to a country to open a bank account."

      Solution

      "Monese offers a mobile-only current account that can be opened in as little as 2 minutes, making it easier for people with a thin credit file or who are new to a country to access financial services."

      Covered on