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Monzo

Monzo

Monzo is a digital banking platform founded in 2015 by Jason Bates, Tom Blomfield, Jonas Huckestein and Paul Rippon.

OverviewStructured DataIssuesContributors

Contents

monzo.com
Is a
Company
Company
Organization
Organization

Company attributes

Industry
Financial services
Financial services
4
Banking
Banking
Neobanking
Neobanking
Financial technology
Financial technology
Bank
Bank
Money transfer
Money transfer
Payment
Payment
Software as a service (SaaS)
Software as a service (SaaS)
...
Location
United Kingdom
United Kingdom
London
London
B2X
B2C
B2C
CEO
TS Anil
TS Anil
Founder
Jonas Huckestein
Jonas Huckestein
‌
Paul Rippon
Tom Blomfield
Tom Blomfield
‌
Jason Bates
AngelList URL
angel.co/monzo
Pitchbook URL
pitchbook.com/profiles...118978-21
Legal classification
Privately held company
Privately held company
Date Incorporated
February 18, 2015
Number of Employees (Ranges)
1,001 – 5,000
Email Address
usa-help@monzo.com
hello@monzo.com
Number of Employees
1,300
Full Address
5 Appold St, London EC2A 2DA, United Kingdom
Broadwalk House, Appold Street, London, England EC2A 2AG, GB
Investors
‌
Klaus Nyengaard
Crowdcube
Crowdcube
Passion Capital
Passion Capital
Thrive Capital
Thrive Capital
RLC Ventures
RLC Ventures
Chainfund Capital
Chainfund Capital
Fabric Ventures
Fabric Ventures
Orange Digital Ventures
Orange Digital Ventures
...
Founded Date
February 18, 2015
Total Funding Amount (USD)
1,636,051,830
Latest Funding Round Date
May 8, 2024
Competitors
Gosolo Financial Ltd
Gosolo Financial Ltd
Rho
Rho
6
Mercury
Mercury
N26 (bank)
N26 (bank)
Rebank
Rebank
Chime Interactive
Chime Interactive
Squirrel (company)
Squirrel (company)
Cleo
Cleo
CTO
Jonas Huckestein
Jonas Huckestein
CFO
‌
James Davies
Former CEO
Tom Blomfield
Tom Blomfield
Key People
Tom Blomfield
Tom Blomfield
TS Anil
TS Anil
Also Known As
Monzo
Latest Funding Type
‌
Series F
Latest Postmoney Valuation
3,821,730,000
Legal Entity Identifier
213800PLUYXGZ8LU7T61
COO
‌
Sujata Bhatia
Country
United Kingdom
United Kingdom
United States
United States
Headquarters
London
London
CMO
‌
Greta Grabher

Other attributes

Blog
monzo.com/blog
Company Operating Status
Active
Strategic Partnerships
Shawbrook Bank and Monzo strategic partnership
Shawbrook Bank and Monzo strategic partnership
Jumio and Monzo strategic partnership
Jumio and Monzo strategic partnership
TransferWise and Monzo strategic partnership
TransferWise and Monzo strategic partnership
Xero and Monzo strategic partnership
Xero and Monzo strategic partnership
FreeAgent and Monzo strategic partnership
FreeAgent and Monzo strategic partnership
OakNorth and Monzo strategic partnership
OakNorth and Monzo strategic partnership
‌
Flux and Monzo strategic partnership
MoneyBox and Monzo strategic partnership
MoneyBox and Monzo strategic partnership
...
Latest Funding Round Amount (USD)
190,000,000
Platform
Android
Android
iOS
iOS
Publisher
Monzo
Monzo
Wikidata ID
Q25206290
Overview

Monzo is an online bank based in the United Kingdom and is a developer of a mobile banking application. The company's mobile application updates balances instantly, offers spending notifications, tracks day-to-day financial transactions without usage fees, and gives customers a timeline of their overall expenditures and control over their spending.

Originally operating through a mobile app and a prepaid debit card, in April 2017, its UK banking license restrictions were lifted, enabling it to offer a deposit account. As of February 2020, Monzo had 3.5 million customers. Monzo is focused on building a current account and working with a range of banking providers so it can be an intelligent hub for a user's entire financial life.

History

Monzo was founded in 2015 by Tom Blomfield, Jonas Huckestein, Jason Bates, Paul Rippon, and Gary Dolman. The team met while working at Starling Bank, a competitor in the mobile and online banking market in the United Kingdom, and its 2016 crowd-funding campaign raised £1 million in 96 seconds via the Crowdcube investment platform.

Services
Personal

Monzo offers personal banking services, which include one-day advances on salary; sorting functions for a user's salary to keep money for spending, bills, and savings at the time of being paid; bills pots, which allow a user to keep money aside for bills without accidentally spending it; and 0.60% AER interest on a user's savings account with a £500 minimum deposit to open. Otherwise, the account works the same as traditional bank accounts, including access to overdrafts, travel spending, and FSCS protection up to £85,000.

Business

Monzo offers business banking services. There are two business accounts: a free account, which offers the standard Monzo personal account services, and a paid account, which includes tax pots, integrated accounting, multi-user access, and invoicing.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date
No Further Resources data yet.

References

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