5 years ago

Monzo's valuation drops 40% in latest funding round

  • Monzo, a London-based digital bank, is set to close its next funding round at a valuation of approximately £1.25 billion

  • The company is looking to raise £70-80 million at a 40% discount from its previous valuation of £2 billion

  • The downround is a result of the current economic climate and the impact of the coronavirus pandemic on investor appetite

  • Despite the downround, investors remain confident in Monzo's future, with several sources indicating that the company has already secured commitments for at least half of the funding target.

      • ProblemFinancial Services

      "People are struggling to manage their finances in a modern world. Traditional banks are often slow, expensive, and inflexible. "

      Solution

      "Monzo is a digital bank that offers a range of financial services, including current accounts, savings accounts, debit cards, and loans. The bank is known for its user-friendly app and its focus on customer service. "

      Covered on