Tagged: monzo

February 8, 2021 @ 12:24 pm By JD Alois  |  

Multiple reports indicate that Monzo is raising £50 million as part of an extension of the previously reported Series G funding from 2020. A Tweet by SkyNews said the new capital is an extension of a previously announced round that brings the total raised by… Read More

January 26, 2021 @ 10:13 pm By Omar Faridi  |  

UK-based challenger bank Monzo is reportedly struggling to maintain operations and may be trying to avoid the same fate as digital bank Xinja which was recently forced to shut down permanently. Fintech analyst Katherine Long from GlobalData recently noted that Monzo has turned into an… Read More

January 21, 2021 @ 9:44 am By JD Alois  |  

Tom Blomfield, founder of digital bank Monzo and former CEO is departing the Fintech entirely at the end of January according to a report. Blomfield has been slowly exiting the Fintech in the last couple of years having passed the CEO title to another some… Read More

January 19, 2021 @ 8:14 pm By Omar Faridi  |  

Although neo banks or digital banking platforms have been gaining significant market share during the past few years, consumers still appear to be somewhat hesitant when working with these new providers as their primary accounts, according to recent research by Accenture. The 2020 Accenture Global… Read More

January 18, 2021 @ 10:03 pm By Omar Faridi  |  

UK challenger bank Monzo has announced several updates. The digital bank confirmed recently that the Year in Monzo 2020 is now available via its app. As explained by the banking challenger, the Year in Monzo shows customers key insights into how they spent, saved, and… Read More

January 4, 2021 @ 7:42 am By Omar Faridi  |  

Digital bank Revolut has reportedly outpaced competitors Monzo and Starling in terms of the number of downloads during 2020. Notably, Revolut saw more app downloads last year than Monzo and Starling Bank combined. As first reported by the Telegraph, Revolut’s online banking app grew more… Read More

December 31, 2020 @ 8:59 am By Omar Faridi  |  

European digital banks have experienced significant challenges this year. Many have continued to record substantial losses and have received complaints from clients regarding service-related issues. Investors have been pushing banking challengers to show them how they can generate sizable profits by effectively monetizing their products… Read More

December 20, 2020 @ 10:37 pm By Omar Faridi  |  

Digital bank Monzo, which recently scored an additional £60 million investment, has revealed that personalized cards have now arrived for US customers. The Monzo team notes in a blog published on December 16, 2020, that they’re pleased to announce that they’ve introduced their newly designed,… Read More

December 2, 2020 @ 10:49 am By Samantha Hurst  |  

UK challenger bank Monzo has reportedly scored an additional £60 million investment. According to TechCrunch, Monzo revealed it not only has more than 4.8 million users, it also raised the funds, which is priced the same as the previous investment from June 2020. Founded in… Read More

November 18, 2020 @ 7:40 am By Omar Faridi  |  

After joining digital bank Monzo only about a year ago, the Fintech firm’s first Chief Risk Officer, Lisa Nowell, has decided to leave her position to pursue a new role at Ashman Finance, an SME-focused lender. Nowell has previously served as Chief Risk Officer at… Read More

October 26, 2020 @ 5:13 pm By Samantha Hurst  |  

Following the launch of its new premium accounts, UK digital banking group Monzo shared more details about its fist metal card, which is a feature of the accounts. As previously reported, the metal card is described as a single 16g sheet of steel, complete with… Read More

October 20, 2020 @ 9:08 am By Samantha Hurst  |  

UK based digital bank Monzo announced on Tuesday the launch of its Monzo Premium account. The new account will feature Monzo’s first metal card, which is made from a single 16g sheet of steel, complete with a “precision-engraved” logo and a white finish.” The account… Read More

September 1, 2020 @ 2:47 pm By Samantha Hurst  |  

UK based digital bank Monzo announced on Tuesday two new fees for its customers. The fintech startup reported that starting October 31st, it will introduce fees for taking out cash and getting replacement cards. “We’re introducing a 3% fee if you withdraw more than £250… Read More

August 15, 2020 @ 11:31 am By Omar Faridi  |  

There are now at least 67 FIntech unicorns, globally, that are valued at a combined $244.6 billion, according to a recently published infographic by CBInsights which shows that North America, particularly the US, is home to some of the world’s largest Fintechs. Fintech unicorns are… Read More

July 30, 2020 @ 4:20 pm By JD Alois  |  

Losses at UK based digital bank Monzo continue to mount, according to a report. Monzo is said to have generated £113.8 million in losses versus year prior losses of £47.1 million. Simultaneously, top-line revenue rose to £67.2m from £19.7m for the fiscal year-end February, according… Read More

July 16, 2020 @ 4:02 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Wednesday the launch of its new account, Monzo Plus. The digital bank reported that the account was created to help users get a “grip” on their finances with features like other bank accounts, credit cards, and credit scores through… Read More

June 17, 2020 @ 11:07 am By JD Alois  |  

Top digital bank Monzo has raised £60 million in new funding at a significant decline in valuation reportedly a 40% haircut. A second tranche of funding may be forthcoming later this year. It was reported last month that Monzo was seeking up to £100 million… Read More

May 31, 2020 @ 11:30 pm By Omar Faridi  |  

Digital or neobanks are increasingly being used by consumers of all age groups for managing finances, and completing transactions. Despite the COVID-19 outbreak and resulting economic problems, digital bank Starling Bank recently secured £40 million in capital. Challenger banks aim to offer better services compared… Read More

May 25, 2020 @ 1:29 pm By Omar Faridi  |  

Many large banks in the United Kingdom appear to be falling behind their all-digital competitors when it comes to providing better overall customer service, which includes the ability to allow clients to quickly open new accounts – according to a recent review performed by Peter… Read More

May 25, 2020 @ 10:17 am By JD Alois  |  

Monzo is one of the top digital banks in the UK that is seeking to challenge old brick and mortar banks in Europe and elsewhere including the USA. The past few months of operations have not been without a few bumps as Monzo has seen… Read More