Digital bank Monzo is reportedly looking to raise between $50-100mn in 2020.
In Brief:
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Monzo has reportedly been discussing further fundraising with City institutions.
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The challenger bank already had a $113mn cash injection this year.
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It currently has 3.5mn customers, 1,500 staff and a valuation of £2bn.
What does this mean?
It’s unclear who Monzo has been talking to in relation to the potential capital raise, but some previous investors have been General Catalyst, Thrive Capital and Accel.
