Monese is an online banking service that aims to provide better banking for individuals and businesses. The Firm’s pricing and operating model allow creating an alternative banking experience without fees or time-consuming bureaucracy. Monese was designed to meet the customers’ everyday needs and therefore offers all the modern banking facilities, such as online and mobile banking, cash withdrawals, card payments and international money transfers. As Monese doesn’t run credit checks and the entire registration process is carried out online, customers can get an account within minutes and can start using the services immediately.
Company Growth (employees)
Type
Private
HQ
London, GB
Founded
2013
Size (employees)
67 (est)-2%
Website
monese.com
Monese was founded in 2013 and is headquartered in London, GB

Monese Office Locations

Monese has an office in London
London, GB (HQ)
Salisbury House Shops 161-162 London Wall

Monese Financials and Metrics

Summary Metrics

Founding Date

2013

Total Funding

$17.8 m

Latest funding size

$10 m

Time since last funding

11 months

Investors

Monese's latest funding round in January 2017 was reported to be $10 m. In total, Monese has raised $17.8 m

Monese Financials

Monese's revenue was reported to be £346.4 k in FY, 2016 which is a 85% decrease from the previous period.
GBP

Revenue (FY, 2016)

346.4 k

Gross profit (FY, 2016)

(851 k)

Gross profit margin (FY, 2016), %

(246%)

Net income (FY, 2016)

(2.5 m)

EBITDA (FY, 2016)

(2.9 m)

EBIT (FY, 2016)

(2.9 m)

Cash (31-Dec-2016)

8.1 m
GBPFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

1.9 m2.1 m2.2 m346.4 k

Revenue growth, %

16%5%

Cost of goods sold

721.4 k212.8 k1.2 m

Gross profit

1.1 m2 m(851 k)
GBPFY, 2014FY, 2015FY, 2016

Cash

1.6 k157.8 k8.1 m

Current Assets

29.8 k212.8 k8.4 m

PP&E

82915.5 k26.4 k

Goodwill

127.4 k
    GBPFY, 2014FY, 2015FY, 2016

    Net Income

    (87.5 k)(1.5 m)(2.5 m)

    Cash From Operating Activities

    3.3 k(816.5 k)(2.7 m)

    Cash From Financing Activities

    100869.3 k10.7 m

    Net Change in Cash

    1.6 k156.2 k7.9 m
      GBPY, 2016

      Revenue/Employee

      13.5 k

      Financial Leverage

      1.1 x
      Show all financial metrics

      Monese's Web-traffic and Trends

      Monese Online and Social Media Presence

      Monese News and Updates

      'Selfie bank' Monese is ready to go viral with European launch

      Monese, the platform which allows users to set up a digital current account with little more than a selfie, is set to expand into Europe today. Originating in the UK, the startup is designed to make it easier for people – especially foreign nationals – to set up a current account when they may no…

      Britain leads the fintech charge in the developed market

      The UK is driving the adoption of fintech in the developed market as the technology continues to gain traction around the world, according to a new report. Mainstream adoption is now reality as one in three digitally active consumers across 20 markets use fintech, according to EY's fintech adopti…

      What Brexit? Deals And Dollars To UK Startups Poised For 6-Year High

      Following Britain’s vote to exit the European Union in Q2’16, there was immediate reaction among investors and analysts speculating on how Brexit would impact financing activity in the UK. Tech-industry leaders and VCs had been some of the most vocal … Continued

      Fintech startup Monese moves closer to bank territory (and profit)

      Monese, a fintech startup backed by a well-known Spotify investor, has moved a step closer to rivalling major banks with the launch of direct debits, its first step in plans to expand.  The digital challenger bank which offers mobile current accounts aimed at expats, immigrants and "nomads" who o…

      Monese Company Life and Culture

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