Monese, a London-based FinTech startup, has raised a $10m Series A round.
Once installed, the online banking app enables non-natives to open a bank account in the UK, simply by taking a selfie and a picture of their local passport or national identity. The Monese current account can be used to receive a salary, shop, make bank transfers and send money abroad, and also provides users with a contactless card which can be used like a regular debit card.
Norris Koppel, CEO of Monese, commented: “We are incredibly excited to close a heavily oversubscribed funding round with a suite of top investors at our side.
“The money raised will be key in helping us launch Euro current accounts to become available to customers in other European markets, as well as a host of new features like direct debit and credit services to ensure customers have everything they need to stay in complete control of their finances,” he added.