7 years ago

Monzo Raises £20 Million in Crowdfunding, Valued at £1 Billion

  • Monzo, a UK-based mobile bank, raised £20 million through crowdfunding on Crowdcube, exceeding its target in just over two days

  • With over 36,000 participants, Monzo, now valued at £1 billion, plans to use the funds for expanding its app's adoption, building new features, and improving customer service

  • Monzo offers debit card-based money management, joint accounts, accounts for teenagers, and bill splitting functionality, with a team of over 300.

      • ProblemFinancial Services

      "It's really hard to manage money with traditional banks, especially for younger people. The whole process is clunky, slow, and doesn't fit into our digital lives. "

      Solution

      "Monzo is a mobile-first bank that makes managing your money super easy and fun. We have a slick app that lets you track your spending, set budgets, and even split bills with friends. Plus, we're always adding new features to make things even better."

      Covered on