Monzo is seeking at least £200m from new investors as part of talks aimed at strengthening its financial firepower amid a booming fintech sector, Sky News has learnt
That may surprise industry peers given Monzo's decision to withdraw its application for a full US banking licence earlier this year amid regulatory uncertainty.
In recent months, it has launched a service enabling customers to make card payments in instalments, in an attempt to gatecrash the 'buy now, pay later' revolution which has propelled the valuations of companies such as Klarna to stratospheric levels. The company is chaired by Gary Hoffman, whose other principal job is chairing the English Premier League.
Even at a £3bn valuation, Monzo would still be worth far less than some fintech rivals, including Klarna and Revolut, which this year become the UK's most valuable technology company.Monzo declined to comment.
Belgique Dernières Nouvelles, Belgique Actualités
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