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Monzo closes GBP 85 mln funding round

Wednesday 31 October 2018 | 12:47 PM CET

Monzo, the UK-based challenger bank, has just closed a new funding round raising GBP 85 million.

The round was led by General Catalyst, alongside Accel and our existing investors.
With this new funding, Monzo aims to increase its reach, as well as bring in new features (like Savings Pots).

However, the bank is also introducing a crowdfunding aspect to this round, which will be announced later in 2018 on Crowdcube.

In 2016 the raised GBP 1 million through crowdfunding, and more recently raised GBP 2.5 million with more than GBP 12 million pledged.

Recently, Monzo decided to switch off debit card top-ups for everyone.

More: Link