Monzo, a digital bank headquartered in London, UK, has raised $430 million.
CapitalG led the round, and existing investors Tencent and Passion Capital joined in as well as the Chinese venture capital firm HongShan.
The company plans to use the money to keep innovating and introducing new goods, as well as to broaden its business reach, primarily in the United States.
Monzo is a mobile bank with services for both individuals and businesses, and its CEO is TS Anil. In order to plan its product roadmap and incorporate cutting-edge features (such savings pots, fast spend notifications, flex spending cards, etc.), the company gathers consumer feedback. Recently, company introduced Call Status, Cashback, and Monzo Investments in addition to its Instant Access Savings Pot.
According to the corporation, it has over 400k commercial customers in addition to over 9 million consumers.
About Monzo:
Monzo is mobile banking that puts you in control of your money. With our intuitive spending and saving account and no overdraft fees you can optimize your budget, manage payments and subscriptions, and save money.
