• TRENDING
  • Market
  • Business
  • Finance
  • Retirement
  • Blockchain
  • Press Release
  • Insights
  • Latest News
  • Save Money
  • Cryptocurrency

Capital Crafters Consulting

SUBSCRIBE
  • Business
    BusinessShow More
    the-step-up-in-cost-basis-and-its-relation-to-the-estate-tax-threshold
    The Step-Up In Cost Basis And Its Relation To The Estate Tax Threshold
    July 16, 2025
    In Defense Of Owning A Big Beautiful Home Over A Small One
    July 14, 2025
    low-us-household-leverage-bodes-well-for-the-economy
    Low US Household Leverage Bodes Well For The Economy
    July 11, 2025
    the-cost-of-supercommuting:-way-more-than-just-gas-money
    The Cost of Supercommuting: Way More Than Just Gas Money
    July 9, 2025
    the-one-big-beautiful-bill-act
    The One Big Beautiful Bill Act
    July 7, 2025
  • Finance
    FinanceShow More
    6-tools-to-overcome-financial-insecurity-&-anxiety
    6 Tools to Overcome Financial Insecurity & Anxiety
    July 15, 2025
    how-the-big-beautiful-bill-will-effect-your-wallet
    How the Big Beautiful Bill Will Effect Your Wallet
    July 7, 2025
    retirement-savings-waterfall:-in-what-order-to-make-your-savings-contributions
    Retirement Savings Waterfall: In What Order to Make Your Savings Contributions
    June 25, 2025
    summer-reading-programs-for-kids-2025
    Summer Reading Programs for Kids 2025
    June 10, 2025
    why-saving-the-first-$10,000-is-critical
    Why Saving The First $10,000 Is Critical
    June 9, 2025
  • Insights
    InsightsShow More
    looking-for-a-financial-advisor-in-voorhees,-new-jersey?
    Looking for a Financial Advisor in Voorhees, New Jersey?
    April 10, 2025
    3-simple-ways-to-boost-your-retirement-budget
    3 Simple Ways to Boost Your Retirement Budget
    April 10, 2025
    how-much-do-authors-make?-a-deep-dive-into-author-earnings
    How Much Do Authors Make? A Deep Dive Into Author Earnings
    April 5, 2025
    your-amgen-benefits-&-career:-financial-planning-for-employees-and-executives
    Your Amgen Benefits & Career: Financial Planning for Employees and Executives
    April 5, 2025
    your-amgen-benefits-&-career:-financial-planning-for-employees-and-executives
    Your Amgen Benefits & Career: Financial Planning for Employees and Executives
    April 5, 2025
  • Market
    MarketShow More
    2025’s-most-innovative-marketing-agencies
    2025’s Most Innovative Marketing Agencies
    July 18, 2025
    solana-(sol)-delivered-400%-gains,-but-this-newcomer-is-already-positioning-for-a-20x-rally-before
    Solana (SOL) Delivered 400% Gains, But This Newcomer Is Already Positioning for a 20x Rally Before
    July 16, 2025
    how-missing-teeth-can-influence-your-overall-well-being 
    How Missing Teeth Can Influence Your Overall Well-Being 
    July 16, 2025
    from-$003-to-$0.30?-this-powerful-defi-token-could-quietly-pull-off-a-10x-move-before-year-end
    From $0.03 to $0.30? This Powerful DeFi Token Could Quietly Pull Off a 10X Move Before Year-End
    July 14, 2025
    bulls-pick-8-high-roi-tokens-in-2025-to-watch-closely-[claim-your-moonbull-whitelist-spot-now]
    Bulls Pick 8 High ROI Tokens in 2025 to Watch Closely [Claim Your MoonBull Whitelist Spot Now]
    July 13, 2025
  • Privacy Policy
Reading: Google Bets Big on Monzo, Values The UK Fintech at $5B
Share
  • TRENDING
  • Market
  • Business
  • Finance
  • Retirement
  • Blockchain
  • Press Release
  • Insights
  • Latest News
  • Save Money
  • Cryptocurrency

Capital Crafters Consulting

SUBSCRIBE
  • Business
    BusinessShow More
    the-step-up-in-cost-basis-and-its-relation-to-the-estate-tax-threshold
    The Step-Up In Cost Basis And Its Relation To The Estate Tax Threshold
    July 16, 2025
    In Defense Of Owning A Big Beautiful Home Over A Small One
    July 14, 2025
    low-us-household-leverage-bodes-well-for-the-economy
    Low US Household Leverage Bodes Well For The Economy
    July 11, 2025
    the-cost-of-supercommuting:-way-more-than-just-gas-money
    The Cost of Supercommuting: Way More Than Just Gas Money
    July 9, 2025
    the-one-big-beautiful-bill-act
    The One Big Beautiful Bill Act
    July 7, 2025
  • Finance
    FinanceShow More
    6-tools-to-overcome-financial-insecurity-&-anxiety
    6 Tools to Overcome Financial Insecurity & Anxiety
    July 15, 2025
    how-the-big-beautiful-bill-will-effect-your-wallet
    How the Big Beautiful Bill Will Effect Your Wallet
    July 7, 2025
    retirement-savings-waterfall:-in-what-order-to-make-your-savings-contributions
    Retirement Savings Waterfall: In What Order to Make Your Savings Contributions
    June 25, 2025
    summer-reading-programs-for-kids-2025
    Summer Reading Programs for Kids 2025
    June 10, 2025
    why-saving-the-first-$10,000-is-critical
    Why Saving The First $10,000 Is Critical
    June 9, 2025
  • Insights
    InsightsShow More
    looking-for-a-financial-advisor-in-voorhees,-new-jersey?
    Looking for a Financial Advisor in Voorhees, New Jersey?
    April 10, 2025
    3-simple-ways-to-boost-your-retirement-budget
    3 Simple Ways to Boost Your Retirement Budget
    April 10, 2025
    how-much-do-authors-make?-a-deep-dive-into-author-earnings
    How Much Do Authors Make? A Deep Dive Into Author Earnings
    April 5, 2025
    your-amgen-benefits-&-career:-financial-planning-for-employees-and-executives
    Your Amgen Benefits & Career: Financial Planning for Employees and Executives
    April 5, 2025
    your-amgen-benefits-&-career:-financial-planning-for-employees-and-executives
    Your Amgen Benefits & Career: Financial Planning for Employees and Executives
    April 5, 2025
  • Market
    MarketShow More
    2025’s-most-innovative-marketing-agencies
    2025’s Most Innovative Marketing Agencies
    July 18, 2025
    solana-(sol)-delivered-400%-gains,-but-this-newcomer-is-already-positioning-for-a-20x-rally-before
    Solana (SOL) Delivered 400% Gains, But This Newcomer Is Already Positioning for a 20x Rally Before
    July 16, 2025
    how-missing-teeth-can-influence-your-overall-well-being 
    How Missing Teeth Can Influence Your Overall Well-Being 
    July 16, 2025
    from-$003-to-$0.30?-this-powerful-defi-token-could-quietly-pull-off-a-10x-move-before-year-end
    From $0.03 to $0.30? This Powerful DeFi Token Could Quietly Pull Off a 10X Move Before Year-End
    July 14, 2025
    bulls-pick-8-high-roi-tokens-in-2025-to-watch-closely-[claim-your-moonbull-whitelist-spot-now]
    Bulls Pick 8 High ROI Tokens in 2025 to Watch Closely [Claim Your MoonBull Whitelist Spot Now]
    July 13, 2025
  • Privacy Policy
Reading: Google Bets Big on Monzo, Values The UK Fintech at $5B
Share
Search
  • Business
  • Finance
  • Insights
  • Market
  • Privacy Policy
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Capital Crafters Consulting > Blog > Insights > Google Bets Big on Monzo, Values The UK Fintech at $5B
Insights

Google Bets Big on Monzo, Values The UK Fintech at $5B

Pat Crawley
Last updated: March 5, 2024 1:00 pm
Pat Crawley
Share
9 Min Read
google-bets-big-on-monzo,-values-the-uk-fintech-at-$5b
SHARE

Monzo has announced a €397 million ($400 million) funding round led by CapitalG, Google’s independent growth fund. The UK’s largest digital bank, with over 9 million customers, is currently valued at $5 billion.

Monzo Raises €397 Million to Fuel Expansion Plans

The round also saw participation from global tech investors, such as GV (Google Ventures), HSG (HongShan Capital), and existing backers (Passion Capital and Tencent).

The funding round values Monzo at a post-money valuation of $5 billion, a significant increase from its previous $4.5 billion valuation in late 2021. The new capital will accelerate Monzo’s expansion plans following a year of record growth that saw the company achieve profitability, attract millions of new customers, and launch a range of new products.

According to TS Anil, the CEO of Monzo, the funding will provide “rocket fuel” to pursue the company’s ambitions “harder and faster”, with the goal of building Monzo into “the one app that sits at the center of our customers’ financial lives.”

Monzo hits $5 billion valuation on $430 million funding round https://t.co/5PoVZhT2cW

— Finextra (@Finextra) March 5, 2024

Monzo has experienced rapid growth in recent years, with over 9 million retail customers and 400,000 business customers. In 2023 alone, the bank added 2 million new customers and saw substantial revenue growth driven by its diversification strategy.

The company reported profitability in March 2023 and launched several new products and features, including Instant Access Savings, Monzo Investments, Cashback, Mortgage Tracker, and the industry-first Call Status fraud prevention tool.

Investor Confidence in Monzo’s Innovation

Gene Frantz, the General Partner at CapitalG, expressed confidence in Monzo’s innovative and customer-centric approach. “In an industry long rife with stagnation and uninspired customer service, Monzo has emerged as the innovative, customer-centric bank consumers have long craved,” he commented.

Frantz highlighted Monzo’s combination of banking and technology, and CapitalG’s “excitement” to support the company’s journey in providing “unique and inspiring digital experiences” to customers in the UK and beyond.

Closing this funding round , worth hundreds of millions of dollars, confirms reports that Finance Magnates informed about two weeks ago. It also stands as an exception to the trend in the European fintech scene, which has recently faced significant challenges in securing financing.

Fintech Funding Plummets in Europe

The recent KPMG Pulse of Fintech report highlights significant challenges the fintech industry faces, with a sharp decline in global investments in 2023. The sector saw its funding decrease to $113.7 billion from $196.3 billion the year before, marking the lowest number of deals since 2017, totaling 4,547.

Africa, like everywhere else, saw VC winters set in hard in 2023. However, in the #Fintech space, while equity funding was down by 43% vs. 2022, debt funding increased by 34% to $647M. 💳🌍

Read the latest findings and stories in this week’s newsletter: https://t.co/tlcRSXgkSP pic.twitter.com/mQ8eYbxsM5

— Lucidity Insights (@LucidityInsight) March 1, 2024

However, the latter half of 2023 witnessed a slight uptick in investment, rising from $55.5 billion to $58.2 billion. Six major deals drove this increase, each exceeding the $1 billion threshold, indicating some resilience within the fintech space.

Additionally, Innovate Finance’s analysis presents a contrasting scenario in the United Arab Emirates where fintech funding soared 92%. This showcases that despite the overall downturn, certain regions and transactions, like the anticipated funding round for Monzo, demonstrate the fintech sector’s capacity for significant deals and growth amidst a generally contracting market.

Monzo has announced a €397 million ($400 million) funding round led by CapitalG, Google’s independent growth fund. The UK’s largest digital bank, with over 9 million customers, is currently valued at $5 billion.

Monzo Raises €397 Million to Fuel Expansion Plans

The round also saw participation from global tech investors, such as GV (Google Ventures), HSG (HongShan Capital), and existing backers (Passion Capital and Tencent).

The funding round values Monzo at a post-money valuation of $5 billion, a significant increase from its previous $4.5 billion valuation in late 2021. The new capital will accelerate Monzo’s expansion plans following a year of record growth that saw the company achieve profitability, attract millions of new customers, and launch a range of new products.

According to TS Anil, the CEO of Monzo, the funding will provide “rocket fuel” to pursue the company’s ambitions “harder and faster”, with the goal of building Monzo into “the one app that sits at the center of our customers’ financial lives.”

Monzo hits $5 billion valuation on $430 million funding round https://t.co/5PoVZhT2cW

— Finextra (@Finextra) March 5, 2024

Monzo has experienced rapid growth in recent years, with over 9 million retail customers and 400,000 business customers. In 2023 alone, the bank added 2 million new customers and saw substantial revenue growth driven by its diversification strategy.

The company reported profitability in March 2023 and launched several new products and features, including Instant Access Savings, Monzo Investments, Cashback, Mortgage Tracker, and the industry-first Call Status fraud prevention tool.

Investor Confidence in Monzo’s Innovation

Gene Frantz, the General Partner at CapitalG, expressed confidence in Monzo’s innovative and customer-centric approach. “In an industry long rife with stagnation and uninspired customer service, Monzo has emerged as the innovative, customer-centric bank consumers have long craved,” he commented.

Frantz highlighted Monzo’s combination of banking and technology, and CapitalG’s “excitement” to support the company’s journey in providing “unique and inspiring digital experiences” to customers in the UK and beyond.

Closing this funding round , worth hundreds of millions of dollars, confirms reports that Finance Magnates informed about two weeks ago. It also stands as an exception to the trend in the European fintech scene, which has recently faced significant challenges in securing financing.

Fintech Funding Plummets in Europe

The recent KPMG Pulse of Fintech report highlights significant challenges the fintech industry faces, with a sharp decline in global investments in 2023. The sector saw its funding decrease to $113.7 billion from $196.3 billion the year before, marking the lowest number of deals since 2017, totaling 4,547.

Africa, like everywhere else, saw VC winters set in hard in 2023. However, in the #Fintech space, while equity funding was down by 43% vs. 2022, debt funding increased by 34% to $647M. 💳🌍

Read the latest findings and stories in this week’s newsletter: https://t.co/tlcRSXgkSP pic.twitter.com/mQ8eYbxsM5

— Lucidity Insights (@LucidityInsight) March 1, 2024

However, the latter half of 2023 witnessed a slight uptick in investment, rising from $55.5 billion to $58.2 billion. Six major deals drove this increase, each exceeding the $1 billion threshold, indicating some resilience within the fintech space.

Additionally, Innovate Finance’s analysis presents a contrasting scenario in the United Arab Emirates where fintech funding soared 92%. This showcases that despite the overall downturn, certain regions and transactions, like the anticipated funding round for Monzo, demonstrate the fintech sector’s capacity for significant deals and growth amidst a generally contracting market.

You Might Also Like

Looking for a Financial Advisor in Voorhees, New Jersey?

3 Simple Ways to Boost Your Retirement Budget

How Much Do Authors Make? A Deep Dive Into Author Earnings

Your Amgen Benefits & Career: Financial Planning for Employees and Executives

Your Amgen Benefits & Career: Financial Planning for Employees and Executives

TAGGED:Alphabetdigital bankFinTechfunding roundgoogleMonzovaluation
Share This Article
Facebook Twitter Email Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

New Releases

- Advertisement -
Ad image

Trending Stories

Dogecoin Whales Scoop Up 1B DOGE as Elon Musk Stays Quiet, Can They Prevent a $0.10 Crash as This Alternative Coin Takes Over?

June 24, 2025
radar-detector-101:-best-practices-for-mounting-and-using-detectors-in-high-performance-cars
Market

Radar Detector 101: Best Practices for Mounting and Using Detectors in High-Performance Cars

May 1, 2025
rich-banks-of-mom-&-dad-are-everywhere—accept-it-and-adapt
Business

Rich Banks of Mom & Dad Are Everywhere—Accept It and Adapt

May 30, 2025
ozak-ai-price-prediction:-will-early-buyers-turn-$500-into-$50,000?
Market

Ozak AI Price Prediction: Will Early Buyers Turn $500 Into $50,000?

April 17, 2025
the-time-to-participate-in-a-no-spend-challenge-is-now
Business

The Time To Participate In A No Spend Challenge Is Now

June 2, 2025
what-is-information-usage-fee-cash-conversion?-beginner's-guide
Market

What is Information Usage Fee Cash Conversion? Beginner's Guide

June 1, 2025

Terms & Conditions

The following Terms and Conditions govern the use of Capital Crafters Consulting and are in place to protect everyone who uses the website. 24-bit Agency owner of Capital Crafters Consulting has the right to revise and update these Terms and Conditions at any time without prior notification; therefore, you should visit this page periodically to review these Terms of Use including the Terms of Use and Privacy Policy of our owner 24-bit Agency.

Capital Crafters Consulting

2024 © Proudly powered by 24-bit Agency. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?