Chasing Revolut: London-based digital bank Monzo poised to raise $150 million at a $1.5 billion valuation

UK-based digital banking startup Monzo is poised to close a $150 million financing round that will value the fintech company as high as $1.5 billion, the FT reports. One of its prime competitors in Britain and beyond, Revolut, just closed a $250 million round at a $1.7 billion valuation, for your comparison.

Accel Partners is one of the investors named to be in talks with the former neo-bank.

The FT also cites Monzo co-founder and CEO Tom Blomfield, who says the company is signing up 18,000 customers a week with a goal to reach as many as 4 million customers in the next couple of years. Again, for your comparison, Revolut's self-described target is 100 million customers in 5 years.

Other well-financed Monzo competitors include Atom, Tandem and Starling in the UK, and N26 in Germany.

Yup, fintech sure is staying popular here for financiers in Europe.

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.