OverviewSuggest Edit

Monzo Bank (formerly Mondo) is a company developing a digital mobile-only bank and providing investment banking services. It enables users to receive push notifications about payments in real-time to phones and view historical transactions. Monzo also allows consumers to categorize transactions, freeze a card, mark company expenses, and overview spending habits.
TypePrivate
Founded2015
HQLondon, GB
Websitemonzo.com
Employee Ratings3.5

Latest Updates

Employees (est.) (Feb 2020)1,128(+159%)
Job Openings63
Revenue (FY, 2020)£67.2 M(+241%)
Cybersecurity ratingBMore

Key People/Management at Monzo Bank

Jonas Huckestein

Jonas Huckestein

Co-Founder
Carol Kobuke Nelson

Carol Kobuke Nelson

CEO and President
Sujata Bhatia

Sujata Bhatia

COO
Iain Laing

Iain Laing

Chief Risk Officer
Mike Hudack

Mike Hudack

Chief Product Officer
Alwyn Jones

Alwyn Jones

CFO
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Monzo Bank Office Locations

Monzo Bank has an office in London
London, GB (HQ)
5 Appold St
Show all (1)

Monzo Bank Financials and Metrics

Summary Metrics

Founding Date

2015

Monzo Bank total Funding

$573.3 m

Monzo Bank latest funding size

$80.27 m

Time since last funding

7 months ago

Monzo Bank investors

Monzo Bank's latest funding round in December 2020 was reported to be $80.3 m. In total, Monzo Bank has raised $573.3 m. Monzo Bank's latest valuation is reported to be £1.2 b.
View all funding rounds

Monzo Bank Revenue

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Monzo Bank's revenue was reported to be £67.18 m in FY, 2020 which is a 241% increase from the previous period.
GBP

Revenue (FY, 2020)

67.2m

Revenue growth (FY, 2019 - FY, 2020), %

241%

Gross profit (FY, 2020)

35.7m

Gross profit margin (FY, 2020), %

53.1%

Net income (FY, 2020)

(113.8m)

Market valuation

1.2b

Cash (29-Feb-2020)

1.4b
GBPFY, 2018FY, 2019FY, 2020

Revenue

2.7m19.7m67.2m

Revenue growth, %

(86%)641%241%

Cost of goods sold

846.0k10.5m31.5m

Gross profit

1.8m9.2m35.7m
GBPFY, 2018FY, 2019FY, 2020

Cash

96.9m549.8m1.4b

Accounts Receivable

160.0k16.1m123.9m

PP&E

823.0k2.3m21.3m

Total Assets

139.8m614.4m1.7b
GBPFY, 2018FY, 2019FY, 2020

Net Income

(30.5m)(47.2m)(113.8m)

Depreciation and Amortization

241.0k799.0k3.2m

Cash From Operating Activities

15.6m351.2m814.7m

Purchases of PP&E

(886.0k)(2.5m)(3.3m)
GBPFY, 2018

Revenue/Employee

20.4k

Financial Leverage

2.5 x
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Monzo Bank Operating Metrics

Monzo Bank's Users was reported to be 5 m in Feb, 2021.
Feb, 2016Mar, 2016Aug, 2016Y, 2016Jan, 2017Apr, 2017May, 2017Nov, 2017FY, 2018Apr, 2018Oct, 2018Feb, 2019FY, 2019Jun, 2019Sep, 2019Nov, 2019FY, 2020Jun, 2020Feb, 2021

Users

30 k83.7 k100 k150 k200 k470 k1.6 m568 k1 m1.5 m1.6 m1.9 m3 m3.3 m3.9 m4 m5 m

Average Daily Spend

£17.26£12

Average Monthly Spend

£535£440

Total Spend

£1 m£20 m£86.2 m£100 m£250 m£800 m£18.02 b
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Monzo Bank Acquisitions / Subsidiaries

Company NameDateDeal Size
Monzo Inc

Monzo Bank Revenue Breakdown

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Monzo Bank revenue breakdown by business segment: 37.2% from Interest income, 59.7% from Fee and commission income and 3.1% from Other

Human Capital Metrics

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Monzo Bank Cybersecurity Score

Cybersecurity ratingPremium dataset

B

86/100

SecurityScorecard logo

Monzo Bank Online and Social Media Presence

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Monzo Bank News and Updates

Monzo inks new deal with Jumio

Jumio today announced a new multi-year agreement with Monzo, further strengthening a long-standing partnership of hypergrowth between the leading AI-powered trusted identity as a service provider and one of the UK’s top digital banks.

Monzo adds emoji icons to P2P payments

Monzo-to-Monzo payments make it easy for you to pay other people. In just a couple of taps you can send money to your contacts, without all the hassle of switching sort codes and account numbers.

Tandem and Monzo are aiming to close fresh funding rounds

This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers. To receive the full story plus other insights each morning, click here. Neobanks Tandem and Monzo are aiming to close fresh funding rounds within the next few months to continue on a …

Monzo pulls out of plans to join UK cheque image clearing system

Digital challenger bank Monzo has abandoned efforts to join the UK's cheque image clearing system in...

Oaknorth and Monzo team up to launch savings accounts

Fintech banks Oaknorth and Monzo have launched a partnership that will allow Monzo users access to a high-interest savings account for the first time. The challenger bank tie-up will allow customers to open a range of savings accounts, with rates of up to 1.55 per cent, within minutes in the Monz…

Monzo to begin Beta testing of business acounts

Monzo has opened a waiting list for its up-and-coming business accounts, accepting the first 100 app...
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Monzo Bank Blogs

How to open a bank account in the UK (even if you don’t have proof of address)

When you try to open a current account, most banks will ask you for proof of address. That’s often a utility bill (for your phone, water, council tax or electricity, for example). But if you’ve just moved to the UK, it’s likely you won’t have any of these documents yet. Hell, you might not …

Why you should make Monzo your main bank, according to people who have

We could try and convince you to go #FullMonzo but it wouldn’t feel right. It’s better coming from someone else, isn’t it. Here’s a few reasons to take the plunge, as told by those who have. 1. It’s super simple to do After having played with @monzo for a bit I’ve now taken the plun…

Do the 1p Savings Challenge monthly and save £667.95 a year

The 1p Savings Challenge usually involves saving a little bit of money, every single day. Normally, it starts by setting aside 1p. Then next day you save 2p, the day after 3p, and so on. But rather than saving every single day, we’ve seen lots of people in our 1p Savings Challenge community takin…

Should I start investing my money?

Investing is often seen as an activity only for the uber-wealthy. Or for experts who spend their days poring over the FT, looking for the next hot stock to buy and sell. But investing has changed a lot in recent years. Thanks to technology, you can start investing with as little as £1 via apps lik…

What is interest? Explained in the 1,000 most-used words

Interest is money that you get when you put money in the bank. And it’s also money that banks make you pay when you use someone else’s money. When you put money in the bank, your bank doesn’t leave it lying there. The bank gives it to other people, so they can buy stuff they need, like houses…

Save £150.55 a year with the Save the Date Challenge

The Save the Date Challenge is a way to save little and often. It works by taking the date every day, adding up the day, month and year, then setting aside the total amount in pennies. For example, on the 1st of June 2019, you’d set aside 26p (01 + 06 + 19 = 26). Or on the 14th November 2019, y…
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Monzo Bank Frequently Asked Questions

  • When was Monzo Bank founded?

    Monzo Bank was founded in 2015.

  • Who are Monzo Bank key executives?

    Monzo Bank's key executives are Jonas Huckestein, Carol Kobuke Nelson and Sujata Bhatia.

  • How many employees does Monzo Bank have?

    Monzo Bank has 1,128 employees.

  • What is Monzo Bank revenue?

    Latest Monzo Bank annual revenue is £67.2 m.

  • What is Monzo Bank revenue per employee?

    Latest Monzo Bank revenue per employee is £59.6 k.

  • Who are Monzo Bank competitors?

    Competitors of Monzo Bank include Monese, Moneythor and Revolut.

  • Where is Monzo Bank headquarters?

    Monzo Bank headquarters is located at 5 Appold St, London.

  • Where are Monzo Bank offices?

    Monzo Bank has an office in London.

  • How many offices does Monzo Bank have?

    Monzo Bank has 1 office.