Monzo has been approached by several investment banks about a potential initial public offering
IN BRIEF:
- The FinTech has received offers from banks eager to handle a prospective IPO
- Monzo is not likely to go public until late 2024 or early 2025 at the earliest
- Recently, Monzo claimed a 250% increase in annualised revenues to £440m in the twelve months up to December 2022
What does this mean?
In addition to Atom Bank, other UK challenger banks Starling and Zopa have suggested they may go public. This suggests that an end to the 2022 IPO winter is possible and follows a positive start to the year for the stock market. UK based FinTechs looking to go public may well mean a boost for the London Stock Exchange which hasn’t traditionally been seen as a top destination for technology compnanies.
