Monzo has raised £20m in latest funding round

Congratulations to Monzo after raising £20m from 36,006 people, in just 2 days, 2 hours and 45 minutes!

£20,000,000

Raised

36,006

Investors

£20,000,000

Target

2.04%

Equity

£1,000,000,000

Pre-money valuation

About the fundraising

Powered by Crowdcube, Monzo has raised £20m in the largest-ever crowdfunding round for a fintech company. The crowdfunding is part of a larger raise from venture capital firms, and the money will be used to expand Monzo’s product range and further grow its customer base, that’s already more than 1m strong.

First for crowdfunding

Monzo customers are able to invest through the Monzo app

Larger fundraise

This round forms part of broader fundraise, which has already seen £85m invested from VCs

Record-breaker

Record-breaking raise will value Monzo at over £1 billion

Increase of 40x

Monzo will now be valued 40x more than the valuation given at its first raise in March 2016

About Monzo

Monzo’s mission is to make money work for everyone.

Founded in 2015, they now have over 1,000,000 customers, a team of 500 and a valuation of £1 billion. More than 100,000 people are signing up every month, and Monzo is the fastest growing bank in the UK.

15% of all bank accounts opened in the UK are now with Monzo!

Powered by Crowdcube

We're thrilled to welcome Monzo back for the third time in what promises to be another record-breaking raise.

By collaborating with Crowdcube, Monzo’s customers are able to invest directly via the Monzo app; another first for the crowdfunding industry.

Monzo will become the third Crowdcube funded business to be valued over £1bn in the last 12 months and marks another major milestone for Crowdcube and crowdfunding.

Monzo's crowdfunding round is funded!

We're excited to announce that 36,006 of the Monzo community invested £20,000,000 in Monzo, in just 2 days, 2 hours and 45 minutes!

Key stats of the raise:

  • £2,038,459 from our existing investors
  • £17,961,551 in just 2 hours and 45 minutes

"We’re happy that so many of you have been able to get involved and take a stake in the bank that you’re helping us build. Our community has played an essential part in making Monzo what it is today, and your support and feedback are becoming even more crucial as we grow.

So thank you to our customers, our loyal investors and our new ones – we’re blown away by your support and so excited about what we’ll do together."

The Monzo Team