Monzo

Online banking made easy.

About

Founded

2015

Headquarters

London, England, United Kingdom

Industry

Fintech, Banking

Company Description

At Monzo, we’re building a new kind of bank. One that lives on your smartphone and built for the way you live today. By solving your problems, treating you fairly and being totally transparent, we believe we can make banking better.

Quick Links

Website Jobs

Funding

Total Raised

$1.1 billion

Valuation

$4.5 billion

Significant Investors

Y Combinator, Coatue, Goodwater Capital, Accel, General Catalyst, Latitude, Stripe, Passion Capital, Orange Ventures, Thrive Capital

Company Traction

In 2020, Monzo ended the year with 77,000 business accounts.

As of June 2022, Monzo had 430,000 Monzo Plus, Monzo Premium, and Monzo Business customers.

In 2021, Monzo’s deposit base grew 124% from 1.4 billion euros to 3.1 billion euros.

As of 2022, Monzo’s deposit base grew to 4.4 billion euros.

As of December 2021, Monzo has over 5 million UK customers.

In Monzo’s 2022 Annual Report, they reported 100,000+ people open a Monzo account monthly, and 90% joined through word of mouth.

As of June 2022, Monzo’s annual revenue run rate was $270 million euros.

As of May 2023, Monzo has over 7 million users.

Leadership Team

TS Anil: CEO of Monzo. Former Global Head, Payment Products & Platform at Visa.

Jonas Templestein: Co-Founder of Monzo. Former Founder of HipDial.

Sujata Bhatia: COO at Monzo. Former SVP & GM Head of Europe, Global Merchant Services at American Express.

Fernando Fanton: CPO at Monzo. Former CPO and CTO at Rappi.

Iain Laing: Chief Risk Officer at Monzo. Former Chief Risk Officer at heylo.

Press

TechCrunch (May 31, 2023): Neobanks should take heart from Monzo’s performance in 2022

CNBC (May 31, 2023): British digital bank Monzo hits monthly profitability for the first time after spike in lending

Sifted (January 30, 2023): Monzo revenues surge more than twofold, putting it on track for 2023 profitability

Reuters (December 8, 2021): Monzo valuation jumps to $4.5 billion after fresh funding round