Monzo’s new funding round rises valuation to USD 5 bln

Monzo’s new funding round rises valuation to USD 5 bln

Monzo, the​ popular ​digital bank based in the UK, has just closed a ​new funding round that has⁤ raised its valuation to‍ an impressive USD 5 billion.

This latest round of funding was led by some ⁢of the ​biggest names in⁢ venture capital, including General Atlantic, Accel, and GV. This brings ‍the total amount raised by Monzo to ​over ⁣USD ​500 million.

Monzo has quickly become a favorite among consumers for its innovative banking features, user-friendly app, and transparent fee ‍structure. The ⁢company has experienced ​rapid ⁢growth since its founding in 2015, with over ⁤5 million customers now using its services.

This new funding round will help Monzo ⁢continue ⁤to expand its offerings, improve its technology,​ and further establish ‍itself as a major player in the fintech industry.

Monzo’s CEO, Tom Blomfield, commented on the‌ funding round,⁤ saying, ⁣”We are thrilled to ⁢have the support of such prestigious investors as we continue to grow and innovate. This ⁢new funding will help us ‍achieve our goal of revolutionizing the way people bank.”

With its new valuation of USD ‍5‌ billion, Monzo is​ now one‌ of⁤ the most⁢ valuable fintech companies in the world. The company’s success is a testament to the growing‌ demand for digital banking solutions and the potential for disruption in the traditional banking industry.

It ​will ⁣be ⁣exciting to​ see what the ​future holds‍ for Monzo as it continues to ⁣expand its reach‌ and bring new innovations to the world of banking.