Monese

neobanks / digital banksover the top

FOUNDING YEAR: 2013
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

Monese is an online banking service that aims to provide better banking for individuals and businesses. Monese allows customers to open a UK current account on their mobile in minutes, regardless of their citizenship. It offers modern banking facilities, such as online and mobile banking, cash withdrawals, card payments and international money transfers. It works in partnership with multiple banks across the Europe, instead it holds an e-money license, issued by the UK's Financial Conduct Authority.

Focus

PRODUCTS & SERVICES

Online banking app for immigrants and expats

REVENUE MODEL

Monese charges a monthly fee of £4.95 per account and minor fee for other services like currency exchange, etc. Earlier the company follows transaction-based revenue model.

MAIN CLIENTS

Expats

Foreign Nationals etc

EXISTING PARTNERSHIPS

Partnered with banks in Europe and other locations.

Traction

VALUATION / MARKET CAP:

$360 M in 2018

REVENUE

$5.0M - $9.99M in 2018

REVENUE COMMENT:

The company had a revenue of $7Million in 2017

NUMBER OF TRANSACTIONS:

1.8 M in 2017

TRANSACTIONS VALUE:

£150 M in 2017

ACTIVE USERS:

40000 Million in 2017

OTHER INFO:

Monese has claimed 74 per cent of all incoming deposits are people’s salaries.

TRACTION COMMENT:

Since Sep 2015, the company has nearly 600,000 sign-ups in the U.K. and elsewhere in Europe. (Sep. 2018)

People

FOUNDERS

Norris Koppel

BOARD MEMBERS AND ADVISORS

Norris Koppel

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Augmentum

Avios Group

Exponential Ventures

Investec

Kinnevik

Korea Investment Partners

PayPal

Seedcamp

Shakil Khan

Smartcap

Spring Capital

Superangel

Tera Ventures

United Angels VC

United Partners

Wiser Financial Advisors

YYX Ventures

KEY EMPLOYEES:

Norris Koppel(CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$80.38 M

DATE OF LAST FUNDING

Sep 2018

SEED & PRIOR FUNDING

$6 M

SEED CLOSED ON

Jan 2017

FUNDING SERIES

SERIES A  · $10 M  · Jan 2017

SERIES B  · $60 M  · Sep 2018

OTHERS  · $4.38 M · Jun 2019

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2013

LOCATION:

United Kingdom

Views:

1746 VISITORS | 2440 VIEWS
LATEST FUNDING ROUND

$80.4 M

TOTAL EMPLOYEES
201-500

About

Monese is an online banking service that aims to provide better banking for individuals and businesses. Monese allows customers to open a UK current account on their mobile in minutes, regardless of their citizenship. It offers modern banking facilities, such as online and mobile banking, cash withdrawals, card payments and international money transfers. It works in partnership with multiple banks across the Europe, instead it holds an e-money license, issued by the UK's Financial Conduct Authority.

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Focus+
Momentum+
Traction+
People+
Other+

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