Archives

November 29, 2024 @ 1:33 pm By Omar Faridi  |  

The UK’s Competition and Markets Authority (CMA) letter to Monzo focuses on issues related to the digital bank allegedly breaching Parts 3, 7, 8 and 12 of the Retail Banking Order. CMA finds breaches of Parts 3, 7, 8 and 12 of the Retail Banking… Read More

October 11, 2024 @ 8:47 am By Omar Faridi  |  

UK’s digital bank Monzo is reportedly expected to reach a substantial £4.5 billion valuation through a potential employee share sale. This is according to a recent report by Sky News. It is worthwhile to note that Monzo, in its early days of existence, raised money… Read More

October 9, 2024 @ 8:34 am By Omar Faridi  |  

UK’s digital bank Monzo has injected €4m in capital into its new Irish division. The update comes just several months following Monzo’s CEO,  TS Anil, stating that the Fintech firm was in the process of establishing its EU offices in Ireland. At the time of… Read More

August 12, 2024 @ 3:27 pm By Omar Faridi  |  

UK’s digital bank Monzo announces that it surpassed 10 million personal customers in the UK as it continues to make money work for everyone. The milestone follows Monzo’s first full year of profitability, a funding round and various product announcements as the firm moves forward… Read More

July 24, 2024 @ 9:08 am By Omar Faridi  |  

UK challenger bank Monzo is diversifying its product suite with a new pension consolidation solution that tracks old pensions and brings them into one fund. The launch of the product comes after research from Monzo reveals that more than half of UK adults (51%) don’t… Read More

June 14, 2024 @ 10:11 am By JD Alois  |  

The securities crowdfunding industry needs to do a better job of highlighting successes for investors as well as embracing the failures. Entrepreneurship generates enormous benefits for society, but investors backing these early-stage firms are taking on a lot of risk. Most startups fail, and some… Read More

June 4, 2024 @ 7:12 am By Omar Faridi  |  

UK’s digital bank Monzo has released its 2024 financial results. Monzo announced its first full-year pre-tax profit. The Fintech firm also revealed that it’s currently in the early phases of expanding into the wider European markets through a new division in Ireland. The update from… Read More

April 28, 2024 @ 9:57 am By Omar Faridi  |  

Digital bank Monzo is reportedly expanding its fundraising to £500 million as part of a round which includes capital from Hedosophia. This, according to an update from Sky News. Sources revealed on Sunday that Monzo might confirm as soon as this week that Hedosophia and… Read More

March 29, 2024 @ 8:09 am By JD Alois  |  

Monzo, a UK-based digital bank, says it now can accept accounts from Limited Companies owned by other firms. These firms may now apply for a business account. In a blog post, Monzo explains that many Limited Companies are owned by individuals, but as the company… Read More

March 5, 2024 @ 8:52 am By Omar Faridi  |  

UK’s challenger bank Monzo has finalized a heavily-trailed $400 million investment round, which has increased the firm’s valuation to $5 billion. The funding round, an incentive for pushing the banking platform towards profitability, was reportedly led by Alphabet-owned Capital G, along with contributions from Google… Read More

February 14, 2024 @ 8:30 am By Omar Faridi  |  

UK’s digital bank Monzo has reportedly reached the 9 million customer milestone. Monzo now claims over 9 million personal account customers, with 2 million joining in the past year. The digital banking platform says it has been at the forefront of the fintech innovation since… Read More

November 6, 2023 @ 9:13 am By Omar Faridi  |  

Digital bank Monzo has appointed Phoebe Chibuzo Hugh, the founder of digital insurance firm Brolly, in order to help the challenger bank with entering the insurance services sector. Hugh reportedly launched insurtech Brolly back in 2016 following a couple rounds of the incubator program Entrepreneur… Read More

October 27, 2023 @ 7:41 am By Omar Faridi  |  

Uk’s digital bank Monzo is reportedly holding discussions in order to potentially sell a new £300 million stake. As first reported by Sky News, the share sale, which may value Monzo at over £3.5 billion, is probably the final such transaction before it goes after… Read More

September 25, 2023 @ 9:12 am By Omar Faridi  |  

Digital bank Monzo notes that gambling charity GamCare has revealed that more people are reaching out for support with problem gambling this year than ever before. Back in June 2018 Monzo claims that it “became the first bank to let you block gambling spending from… Read More

July 12, 2023 @ 5:02 pm By Omar Faridi  |  

UK-headquartered digital bank Monzo is reportedly holding discussions regarding a potential merger with Nordic region firm Lunar. This, acccording to recent reports from Bloomberg. Lunar, a virtual bank with more than 650,000 clients across Denmark, Sweden Norway, has previously secured €35 million in order to… Read More

July 3, 2023 @ 3:11 pm By Omar Faridi  |  

From 3rd July 2023, Monzo Premium’s worldwide family travel insurance will be provided by Zurich, powered by Qover. Most of the things covered by the insurance will “stay the same.” As will the excess amount and the price of Monzo Premium, the team at Monzo… Read More

February 3, 2023 @ 9:15 am By JD Alois  |  

Monzo, a top digital bank serving the UK and the US, has surpassed seven million customers, according to an investor update posted on the Monzo community forum. The post indicates that Monzo has been growing by 150,000 new account sign-ups each month, with 350,000 customers… Read More

August 23, 2022 @ 3:32 pm By JD Alois  |  

Digital banks and neobanks are a fairly recent evolution in the financial services world. Incumbent banking has been around for decades, if not hundreds of years. Old banks taking deposits for safekeeping, paying little in return (or charging fees), packaged with mediocre services, and queues… Read More

July 26, 2022 @ 12:28 pm By JD Alois  |  

Monzo, a leading digital bank, has been ordered by the UK Competition and Markets Authority (CMA) to manage its departing customers better. According to a statement by the CMA, Monzo must review how it communicates with exiting customers regarding historic financial transactions. Apparently, Monzo informed… Read More

May 31, 2022 @ 12:27 pm By Omar Faridi  |  

The team at Fintech Monzo notes that you can now send funds abroad from your Monzo Business account. Monzo confirmed that they have partnered with global Fintech firm Wise (LSE:WISE) in order to give clients a simple, affordable way to send funds overseas. The money… Read More