Possible merger with Nordic competitor Lunar
IN BRIEF:
Discussions are said to be at an early stage
Lunar has over 650,000 users across Denmark, Sweden and Norway; whilst Monzo has 7.5m customers in the UK
Monzo hit monthly profitability for the first time in January and February this year
What does this mean?
Previously, Monzo chair of the board Gary Hoffman hinted at the bank’s European expansion plans: “Our ambitions also go beyond the UK and in the next phase of our growth we’ll re-focus on growth in the US market with a new leader at the helm. And closer to home, we’ll be exploring opportunities to bring Monzo to more people across Europe.”
