The head of UK digital bank Monzo has vowed to press ahead with scaling up the business, defying the retrenchment forced on many fintechs by slowing economic growth and a downturn in markets.
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Monzo chief vows to scale up business despite fintech turmoil
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“For every question I get on profitability, I get many times that number from investors and others asking whether we’re investing wisely for the long term,” Anil said in an interview with the Financial Times. “It’s incredibly important to us that we build Monzo not just for today, but for the big global ambition that we have.” Monzo’s pledge to focus on long-term growth comes at a chastening time for a fintech sector that took off during the era of easy money, rising stock markets and patient investors.
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