UK based challenger bank has raised $111 at a $1.3b valuation led by General Catalyst.
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Monzo Is Already Planning A 2019 Funding Round To Enter The U.S.
At the same time, Blomfield downplayed Monzo’s expansion plans in Europe, saying: “Europe is tricky. I think you have to deeply customize for each market, which is why the U.S. really is more attractive to us because we speak the language, more or less.” General Catalyst Partners led the venture capital portion of today’s round along with Accel Partners, and both are joined by Monzo’s existing investors. An additional £20 million ($26.2 million) is already set to be raised later this year (technically part of this current funding round), via a crowdfunding campaign that Blomfield says will be open exclusively to Monzo customers via the bank’s app. Today's fundraise implies a quadrupling of the £250 million valuation Monzo reached only in November last year.
