Menu visibility control



Startup Surgery

Most Recent


CleanTech startup Desolenator wins Duke of York’s Pitch@Palace 7.0


UK FinTech firms ‘raised $328m in Q1 2017’


EdTech startup Gojimo acquired by Telegraph Media Group

Press Releases

Mention Me win best tech startup award at Drapers Digital Festival
GamCrowd officially launches the first ever Gambling Tech Week as part of London Tech Week
Redbox Digital Gains Prestigious Magento Global Elite Partner Status

Challenger bank Monzo announces £19.5m investment


Challenger bank Monzo has announced a £19.5m Series B round from venture capital firms Thrive Capital, Passion Capital and Orange Digital Ventures.

The bank, which was founded in 2015, was given a pre-money valuation of £65m.

Monzo is a digital-only banking service which currently offers users prepaid bank cards, but it hopes to soon provide current accounts and overdrafts.

FinTech Monthly: £108m in UK FinTech investment, Square’s UK launch, Monzo news and more

The FinTech firm has reserved a further £2.5m in this latest funding round for a campaign via Crowdcube, a crowdfunding investment platform.

The news comes after Monzo announced a £4.8m investment from Passion Capital in October 2016.

Tom Blomfield, Monzo CEO, said the response to last year’s crowdfunding campaign – when the firm claims to have raised £1m in 96 seconds – was “incredible”.

He said: “I’m delighted to announce that we’ll be able to bring on even more crowdfunding investors as part of this round. We’re expecting 4,000 or 5,000 people to get the opportunity to invest.”

Monzo says it aims to move away from traditional banking models in the future, giving customers one-click access to third-party financial products as part of a move toward “banking as a marketplace”.

Miles Grimshaw, principal at Thrive Capital, said: “Consumers are used to the ease and convenience of offerings like Amazon, and they expect the same from their bank. Building a modern bank from front to back is an incredible challenge, and we haven’t met a better team to take it on!”

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...

Editor's picks


CleanTech startup Desolenator wins Duke of York’s Pitch@Palace 7.0
posted 8 hours ago


UK FinTech firms ‘raised $328m in Q1 2017’
posted 10 hours ago


EdTech startup Gojimo acquired by Telegraph Media Group
posted 13 hours ago

business people

UK tech firm Ve Interactive ‘rescued’ from administration following management buyout
posted 14 hours ago

investment roundup

UK tech investment trends of Q1 2017
posted on April 25, 2017


Hibob closes $17.5m Series A, brings total raised to $25m
posted on April 25, 2017