Monzo’s valuation woe: Bank not price way more than three years in the past
Funding: Digital financial institution Monzo is about to finalise a deal within the subsequent two weeks to lift as a lot as £350m from outdated and new buyers
Monzo is eyeing a valuation of £4billion in its newest funding spherical – not way more than it was price three years in the past.
The on-line financial institution is about to finalise a deal within the subsequent two weeks to lift as a lot as £350million from outdated and new buyers, in response to reviews.
This will worth the UK fintech at round £3.6billion – or some £4billion after considering the recent money.
But this price ticket is barely barely greater than the group was given in 2021 when it was valued at £3.5billion.
Monzo, which was based in 2015 and has about 9m prospects within the UK, declined to touch upon the valuation, which was first reported by the Financial Times.
But Danni Hewson, analyst at funding platform AJ Bell, has prompt that Monzo has suffered in a tough financial backdrop.
She stated: ‘Valuations don’t all the time observe a straight line and the previous couple of years has been taxing for UK markets.
‘That said, this fund raising is a big vote of confidence in the business and an injection of capital that will help it continue to muscle its way deeper into the status quo of the UK banking sector.’
