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Top related persons:
Anil - 5 Monzo - 5 Monzo's - 4 we've - 2 It's - 2 it's - 1 GIC - 1 Revolut - 1
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CNBC - 3 BlackRock - 2 Business - 2 London - 2 Starling Bank - 2 Hedosophia - 1 Barclays - 1 NatWest - 1

Search resuls for: "Monzo's"


7 mentions found


☆ British neobank Monzo boosts funding round to $610 million to crack U.S. market, launch pensions
  + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com   time to read: +4 min
MonzoBritish neobank Monzo said Wednesday that it's raised another $190 million, lifting the total it's raised so far this year to $610 million. Singaporean sovereign wealth fund GIC also participated in Monzo's latest fundraise, a source familiar with the matter told CNBC. The total $610 million round marks the single-biggest funding round for a European fintech in the past year, according to Dealroom data. "What I like about how we're approaching this is, at the heart of it, it's not just words," Anil told CNBC in an exclusive interview Tuesday. European expansion is also on the cards, Anil said, although he didn't commit to a date for when this will happen.
Persons: Anil, Monzo, it's, GIC, we've, Monzo's, Revolut Organizations: CNBC, Hedosophia, Barclays, NatWest, BlackRock, JPMorgan, Citibank Locations: U.S, Berlin
☆ HongShan split from Sequoia last year as US-China relations worsened. Now, it's eyeing up Europe.
  + stars: | 2024-03-19 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +4 min
Last June, storied investor Sequoia Capital announced it was to split itself into three separate entities. Sequoia Capital would look after the US and Europe; Peak XV Partners would manage its investments in India; and HongShan Capital would be based in China. The emergence of HongShan as an active investor in Europe would result in the firm "competing with former family," one source said. The expansion could be aimed at attracting businesses that target the Chinese market or companies set up by Chinese entrepreneurs away from home, the FT said, citing sources who had spoken with Shen. HongShan Capital's most recent fund includes LPs such as CalPERS, the University of Texas Investment Management Company, and the University of Washington endowment.
Persons: HongShan, Neil Shen, Shen Organizations: Sequoia Capital, YouTube, Sequoia, Partners, HongShan, Business, United, Strategic, University of Texas Investment Management Company, University of Washington Locations: China, Europe, India, London, Singapore, Asia
☆ Alphabet wants to invest in British fintech bank Monzo before it goes public
  + stars: | 2023-11-22 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
Monzo, a British fintech bank, is in talks with Alphabet's private investment arm Capital G to raise what is primed to be its last funding round before a public listing. The bank touts around 8.5 million customers in the UK and is best known for its bright coral pink bank cards. Fintech funding in Europe dropped 70% to $5 billion from $17.1 billion in the first half of 2023, compared with 2022, according to Finch Capital. The prospective funding round is set to be the fintech's last private raise before a mooted public debut that would likely take place in late 2024 or 2025. The British bank reported £116.3 million in losses last year despite more than doubling its revenue.
Persons: Monzo, Catalyst, Monzo's, Cash, Conor Walsh, Anil Organizations: Business, Sky News, Abu Dhabi Growth Fund, Silicon, VC, fintech, Finch, London, Starling Bank Locations: British, London, Abu Dhabi, New York, Europe, Monzo, Starling
☆ Britain's $4.5 billion digital bank Monzo debuts investments feature
  + stars: | 2023-09-12 | by ( Ryan Browne | ) www.cnbc.com   time to read: +7 min
MonzoMonzo, the $4.5 billion digital challenger bank, launched a feature that lets users make investments —marking its first foray into the massive financial investment market. Monzo Investments will allow users to start investing with as little as £1. With Monzo Investments, you can start from £1." MonzoThe investments pots feature will appear in a new part of the home screen on Monzo called Savings & Investments. Gautam Pillai, head of fintech research at the investment bank Peel Hunt, said Monzo's new investments feature could increase customer "stickiness."
Persons: Anil, Monzo Monzo, It's, Monzo, who've, they'll, Monzo's, they've, Zopa, Wise, we've, Gautam Pillai, Peel Hunt, Pillai Organizations: Investments, BlackRock, CNBC, Monzo, Monzo Investments, Savings, Starling Locations: Britain
☆ British digital bank Monzo hits monthly profitability for the first time after spike in lending
  + stars: | 2023-05-31 | by ( Ryan Browne | ) www.cnbc.com   time to read: +1 min
In its annual report for the year ending February 2023, Monzo reported net operating income of £214.5 million ($266.1 million), almost doubling year-over-year from £114 million. Losses at the bank nevertheless came in at a substantial £116.3 million — though this was slightly lower than the £119 million net loss Monzo reported in 2022. Still, the company managed to reach profitability in the first two months of the year. Starling Bank reached that milestone for the first time in 2021. Fellow fintech Allica Bank reached monthly profitability last year.
Persons: Monzo, James Davies, Anil, Starling, Monzo's Organizations: CNBC, Starling Bank, Allica Bank
☆ Britain's Monzo narrows annual loss, IPO 'some ways down the road'
  + stars: | 2023-05-31 | by ( Iain Withers | ) www.reuters.com   time to read: +2 min
Monzo is one of Britain's highest-profile financial technology companies, having attracted 7.4 million customers with its bright coral cards and spend-tracking data since launching in 2015. Monzo reported a net loss of 116.3 million pounds ($146.8 million) for the year, compared to a loss of 119 million the previous year. We'll do the work well before we need to make a decision," Anil said when asked where Monzo could float. "We will make a great public company one day," Anil added. The bank expects to post a full-year profit this financial year, Anil said, after the company said it reached monthly bottom-line profitability in March.
Persons: Monzo, Anil, It's, We'll, Iain Withers, Jason Neely Organizations: London, Financial, Authority, Thomson Locations: British, New York, London
☆ Economic pain is so bad right now that more companies are handing out up to $2,800 in inflation bonuses to keep their lowest-paid workers afloat
  + stars: | 2022-10-19 | by ( Sawdah Bhaimiya | ) www.businessinsider.com   time to read: +3 min
UK firms such as Virgin Media O2 and Monzo are handing out inflation bonuses to staff. This follows US businesses handing out one-off payments this summer to help workers. A growing number of firms globally are handing out one-off bonuses of up to $2,800 to keep lower-paid workers afloat as inflation outstrips pay and pushes prices higher. And UK banks such as Nationwide, Barclays, HSBC and Monzo are all offering one-off bonuses to staff. Although firms handing out cash is a significant and unusual move, workers rights' representatives say it isn't enough.
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