The share sale, which will value Monzo at more than £3.5bn, is likely to be the last before it pursues a bumper stock market flotation, Sky News learns.
In brief:
-Monzo is in talks about a £300m-plus fundraising that would underpin its status as the most highly valued digital bank in Britain.
-Sky News has learnt that Monzo, which was founded in 2015 and now boasts 8.5m customers, is in detailed talks with a pack of blue-chip investment funds about a share sale expected to value it at more than £3.5bn.
-The company is expected to finalise the details of the stake sale by the end of the year.
What does this mean?
Insiders said the fundraising would be conducted at a premium to the £3.5bn at which it secured capital from Abu Dhabi Growth Fund in late 2021.
