9 years ago

Monzo Secures New Series C Funding Led by Thrive Capital

  • Monzo, a UK-based digital bank, is set to raise a new Series C funding round, led by US-based Thrive Capital

  • The amount is estimated to be around £30 million, although sources indicate it could be less

  • The round follows a previous £4.8 million bridge funding round in October, which valued Monzo at £50 million

  • Monzo, which was previously known as Mondo, is building a digital-only bank and recently was granted a U.K

  • banking licence.

      • ProblemFinancial Services

      "Traditional banks are slow, inflexible, and expensive. They don't understand the needs of modern customers. "

      Solution

      "Monzo is a digital-only bank that offers a better banking experience. It's faster, more flexible, and more transparent than traditional banks. Monzo also offers a range of features that traditional banks don't, such as real-time spending tracking, geolocation-marked transactions, and spending by category."

      Covered on