9 years ago

Monzo Raises £4.8 Million to Expand Mobile Banking Platform

  • London-based mobile bank Monzo, formerly known as Mondo, has raised £4.8 million in funding led by existing investor Passion Capital

  • This brings the company's valuation to £50 million and total funding to £12.8 million

  • The funds will be used to advance Monzo's beta program

  • Monzo is building a current account and a smart platform for customers to manage their entire financial life

  • They offer limited-edition Alpha and Beta cards (Monzo MasterCard® Prepaid Debit cards) that can be topped up and used at cash machines, in-store, online and at contactless terminals.

      • ProblemFinancial Services

      "Not having access to a branch and cheque book."

      Solution

      "Building a mobile bank that allows people to manage their entire financial life on their phone."

      Covered on