• FOUNDING YEAR: 2015
    LOCATION:
    United Kingdom
    REGION:
    England
    Last Update:
    25 Nov, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Monzo offers a Mastercard (prepaid card) and a mobile app that can be used for paying money into the account. Additionally, it provides instant updates about user balance and handy notifications (including why a transaction was declined). Once a Monzo account has been created by the user, they are issued with a new debit card, and can transfer their full balance over to the account. Users can also make bank-to-bank transfers and direct debits, from their Monzo account.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail customers
EXISTING PARTNERSHIPS:
Partnered with Wire card bank

PEOPLE

FOUNDERS:
Gary Dolman, Jason Bates, Jonas Huckestein, Paul Rippon, Tom Blomfield
Board Members and Advisors:
Denise Kingsmill
NUMBER OF EMPLOYEES:
201-500
INVESTORS:
Stripes Group, Passion Capital, Orange Digital Ventures, Goodwater Capital, Thrive Capital, Cartilage Capital, Blue Wire Capital, Michael Moritz
KEY EMPLOYEES:
Tom Blomfield(CEO);Jonas Huckestein(CTO); Jason Bates(CCO)

TRACTION

VALUATION / MARKET CAP:
$61.93 MM in 2016
COMMENT:
Monzo has more than 100,000 users get access to a pre-paid MasterCard and accompanying iOS and Android apps(2016).

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$417.34 Millions
SEED & PRIOR FUNDING:
$3.14 Millions
SEED CLOSED ON:
Jun 2015
FUNDING SERIES:
SERIES A
$7.22 Millions Closed: Feb 2016
SERIES B
$5.87 Millions Closed: Oct 2016
SERIES C
$24.48 Millions Closed: Feb 2017
SERIES D
$93.53 Millions Closed: Nov 2017
SERIES E
$108.53 Millions Closed: Oct 2018
SERIES F
$143.4 Millions Closed: Jun 2019
CROWDFUNDING:
$31.17 Millions
LISTED:
NO

LATEST RESEARCH