Monzo has raised another £150 million ($190 million), as the challenger bank looks to expand its presence internationally — particularly in the U.S.
The new round comes just two months after Monzo raised £340 million ($425 million), meaning the London-based company has now raised north of $610 million in 2024, and $1.5 billion since its inception nine years ago.
The first tranche of the Series I round saw Alphabet’s CapitalG and Google’s GV make a rare co-investment, alongside notable backers including HongShan Capital (formerly Sequoia Capital China), Passion Capital and Tencent. This extension saw existing investors such as CapitalG throwing more cash into the pot, alongside new backer Hedosophia, which had previously backed Monzo rival, Wise.
In March, Monzo said its pre-money valuation was £3.6 billion ($4.6 billion), translating to a post-money valuation of £4…
