Monument Bank Raises $50M, Remains Focused on Helping Affluent Savers Grow their Wealth

Monument Bank is pleased to announce the successful completion of our Series B, raising $50 million (£40+ million).

According to Monument Bank, the successful closure of this funding round “not only reaffirms their vision but also highlights Monument’s substantial and resilient growth amid persistent environmental challenges.”

The firm says that it is thankful to all their shareholders, and in particular Dubai Investments PJSC, “for their continued conviction in Monument’s unique positioning and capabilities to address the underserved mass-affluent segment.”

The firm said its growth “has accelerated significantly in recent months, allowing them to help many affluent savers grow and enjoy their wealth.” The company further claims that it has been an incredible journey, and they couldn’t be more excited “about evolving their Financial and Lifestyle products to create more prosperity.”

Monument is building a bank “that appreciates you’ve worked hard for your success. And like you, we know there’s always more to come.”

The firm says that their level of service is “based on one belief: as a Monument member, your time is worth more than theirs.”

As covered earlier this year, the Board of Monument Bank is pleased to confirm that regulatory approval has been confirmed for the appointment of Fiona Pollard as the successor to Niall Booker as Chair of Monument Bank.

Monument Bank Limited is authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA

This completes an orderly succession process which has “been in train for the last six months and will take effect from 26 July.”

Booker indicated to the Board late last year that he “would like to step down to focus on his other interests and that after four years in the role and with Monument Bank successfully achieving its banking license and starting its deposit-taking and lending journey, now was an appropriate time to do so.”

Pollard was selected “as the Board’s preferred candidate subject to regulatory approval after an extensive appointments process run by the Senior Independent Director, Sir Andrew Likierman.”

She has served as “an independent Non-Executive Director of the Bank since September 2019 and chairs the Bank’s Remuneration and Nomination Committee.”

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