UK challenger bank Monzo nabs another $190M as US expansion beckons [TechCrunch]
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Source: TechCrunch
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. Monzo, the UK challenger bank with 9 million customers, raises $430 million In March, Monzo said its pre-money valuation was £3.6 billion ($4.6 billion), translating to a post-money valuation of £4 billion ($5 billion). Now, the company says its post-money figure is £4.1 billion ($5.2 billion), meaning not much has changed in the past two months. While Monzo is mostly known in
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