Monzo Bank
- Revenue£79.4 MFY, 2021
- Market Valuation$4.5 B2021-12-08
- Total Funding$1.1 B
OverviewSuggest Edit
Monzo Bank (formerly known as 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.
| Type | Private | |
| Founded | 2015 | |
| HQ | London, GB | Map |
| Website | monzo.com | |
| Employee Ratings |
Key People/Management at Monzo Bank
Carol Kobuke Nelson
CEO and President
Jonas Huckestein
Co-Founder and CTO
Sujata Bhatia
COO
Iain Laing
Chief Risk Officer
Mike Hudack
Chief Product Officer
Kyle Callender
Vice President - Head of Payments
Monzo Bank Office Locations
Monzo Bank has offices in London and San Francisco
London, GB (HQ)
5 Appold St
San Francisco, CA, US
650 California St #1501
Monzo Bank Financials and Metrics
Summary Metrics
Founding Date | 2015 |
Monzo Bank total Funding | $1.1 b |
Monzo Bank latest funding size | $475 m |
Time since last funding | 6 months ago |
Monzo Bank investors | Y Combinator, Accel Partners, Thrive Capital, General Catalyst, Jeremy Yap, Passion Capital, Accel, Goodwater Capital, Stripe, Klaus Nyengaard, Crowdcube, Orange, Orange Digital Ventures, Novator, Matteo Gamba, Crankstart Foundation, Chris Haslam, Future Fifty, Upscale, Marcos Vercelli-Forster, Aranit Cenalla, Latitude, Nicolas Dupuis, Goodwater, Thrive, Reference Capital, Vanderbilt University, Deliveroo, Kaiser, TED Global, Octahedron Capital, Abu Dhabi Growth Fund |
Monzo Bank's latest funding round in December 2021 was reported to be $475 m. In total, Monzo Bank has raised $1.1 b. Monzo Bank's latest valuation is reported to be $4.5 b.
Monzo Bank Revenue
Monzo Bank's revenue was reported to be £79.42 m in FY, 2021 which is a 18.2% increase from the previous period.
| GBP | |
|---|---|
Revenue (FY, 2021) | 79.4m |
Revenue growth (FY, 2020 - FY, 2021), % | 18.2% |
Gross profit (FY, 2021) | 62.2m |
Gross profit margin (FY, 2021), % | 78.3% |
Net income (FY, 2021) | (129.7m) |
Market valuation | 4.5b |
Cash (28-Feb-2021) | 3.0b |
- Source: Reuters - February 2022
| GBP | FY, 2018 |
|---|---|
Revenue/Employee | 20.4k |
Financial Leverage | 2.5 x |
Monzo Bank Operating Metrics
Monzo Bank's Users was reported to be 5 m in FY, 2021.
| Feb, 2016 | Mar, 2016 | Aug, 2016 | Y, 2016 | Jan, 2017 | Apr, 2017 | May, 2017 | Nov, 2017 | FY, 2018 | Apr, 2018 | Oct, 2018 | Feb, 2019 | FY, 2019 | Jun, 2019 | Sep, 2019 | Nov, 2019 | FY, 2020 | Jun, 2020 | Feb, 2021 | FY, 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Users | 30 k | 83.7 k | 100 k | 150 k | 200 k | 470 k | 1.6 m | 568 k | 1 m | 1.5 m | 1.6 m | 1.9 m | 3 m | 3.3 m | 3.9 m | 4 m | 5 m | 5 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 |
Monzo Bank Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Monzo Inc |
Monzo Bank Revenue Breakdown
Monzo Bank revenue breakdown by business segment: 30.2% from Interest income, 68.2% from Fee and commission income and 1.7% from Other
Monzo Bank Cybersecurity Score
Monzo Bank Online and Social Media Presence
138.89k Twitter followers
Monzo Bank has 138.89k Twitter Followers. The number of followers has increased 1.3% month over month and increased 2.7% quarter over quarter
Monzo Bank's Trends
Twitter Engagement Stats for @monzo
118.2k
Tweets
773
Following
138.9k
Followers
875
Tweets last 30 days
5.4
Avg. likes per Tweet
35.4%
Tweets with engagement
Monzo Bank News and Updates
May 20, 2019
Monzo hits two million customer milestone
UK challenger bank Monzo has broken through the two million customer mark, with sign-ups continuing to accelerate for the app-only bank.
The milestone was reached in the early hours of Monday morning. It comes just over two years since Monzo achieved its banking licence and eight months after sup…
May 02, 2019
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.
April 16, 2019
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.
April 09, 2019
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 …
March 25, 2019
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...
March 21, 2019
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 Bank Blogs
June 12, 2019
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 …
June 12, 2019
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…
June 11, 2019
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…
June 11, 2019
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…
June 07, 2019
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…
June 07, 2019
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…
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 Carol Kobuke Nelson, Jonas Huckestein and Sujata Bhatia.
How many employees does Monzo Bank have?
Monzo Bank has 1,332 employees.
What is Monzo Bank revenue?
Latest Monzo Bank annual revenue is £79.4 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, Revolut and Tandem.
Where is Monzo Bank headquarters?
Monzo Bank headquarters is located at 5 Appold St, London.
Where are Monzo Bank offices?
Monzo Bank has offices in London and San Francisco.
How many offices does Monzo Bank have?
Monzo Bank has 2 offices.
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