Digital banking group Monese announced on Wednesday two million customers have officially signed up for its services. Monese reported that in 2019, customer growth tripled with more than 9,000 users now joining its platform every day. At this current growth rate, Monese is on track to exceed five million sign-ups in 2020.
“In the last six months, Monese has doubled its customer sign-ups, with mainland Europe accounting for nearly three quarters of this growth. This milestone demonstrates significant momentum, following Monese’s successful $60 million Series B fundraise in September 2018, the introduction of joint accounts, as well as increased functionality across all products.”
Monese also revealed that outside the UK’s 800,000 current account holders, France and Germany remain Monese’s core markets, with over 200,000 sign-ups in France alone in the last year. Speaking about the milestone, Norris Koppel, Founder and CEO of Monese, stated:
“We are delighted to have achieved two million sign-ups and see such strong growth across Europe. It took 42 months to get to one million customers and only eight months to reach today’s milestone. We started Monese with one goal – to provide financial freedom anywhere and everywhere. We’re beginning to expand this and are seeing huge popularity in big global cities across Europe.”
Koppel went on to add:
“The past 12 months alone has also seen the business launch pioneering products such as Europe’s first cross-border joint account, the introduction of UK joint accounts, an exclusive Avios partnership. This is only the beginning. I look forward to an exciting year ahead.”