Tagged: monzo

June 25, 2019 @ 2:46 pm By JD Alois  |  

Varo Money, one of a handful of US-based digital challenger banks seeking to receive a bank charter from the Office of Comptroller of the Currency (OCC), is shutting down its consumer lending division, according to a reliable source. Multiple employees are said to be looking… Read More

June 25, 2019 @ 8:56 am By Samantha Hurst  |  

UK-based challenger bank Monzo announced on Monday it secured £113 million through its latest investment, led by Y Combinator Continuity and Latitude. The round of funding reportedly brings the platform’s valuation to £2 billion.  The news about Monzo’s latest investment round comes just six months after the… Read More

June 20, 2019 @ 9:05 am By Samantha Hurst  |  

UK challenger bank Monzo addressed recent issues concerning its bank transfer services. The digital banking platform reported that on May 30th, around a quarter of bank transfers into Monzo accounts were failing or delayed by several hours and bank transfers from the Monzo accounts were… Read More

June 13, 2019 @ 12:53 pm By JD Alois  |  

Digital challenger bank Monzo has crossed the Atlantic and entered the US marketplace. On the same day competitor Revolut announced an expansion into Australia, Monzo announced banking services in the US in a release and a blog post. A signup form is available on the… Read More

May 20, 2019 @ 3:52 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Monday it has attracted two million users to its digital banking platform. Founded in 2015, Monzo reported that it is building a “new kind of bank” that lives within smartphones and is built for the way users live today…. Read More

May 3, 2019 @ 9:28 am By Samantha Hurst  |  

U.S. fintech Jumio announced on Thursday it has joined forces with UK challenger banker Monzo. Jumio reported that it has been Monzo’s primary identity verification solution since 2017 and the companies have worked together to offer an easy-to-use, intuitive mobile onboarding experience for Monzo’s customers,… Read More

April 28, 2019 @ 9:42 pm By Samantha Hurst  |  

UK challenger bank Monzo announced earlier this week the launch of its new customization premium feature, Monzo Plus. Monzo reported that it previously published a list of things it was looking to explore throughout 2019, including an option to allow users to purchase “add-ons” for their… Read More

April 4, 2019 @ 8:42 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Thursday that users may now use the Monzo mobile app to open a cash ISA (Individual Savings Account), thanks to its partnership with OakNorth. It was revealed: “You’ll need to deposit a minimum of £500 to open one. In both… Read More

March 25, 2019 @ 12:14 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Friday it was putting its plans on hold to allow its users to pay in cheques with a picture. The startup reported that last year it announced its plans to join the Image Clearing System, but in January, it… Read More

February 24, 2019 @ 6:40 pm By JD Alois  |  

In the past week, Crowdcube has issued a request to change the Nominee terms for Monzo, a digital-only challenger bank that has gained Unicorn status. Monzo has crowdfunded several times on Crowdcube. The most recent crowdfunding round saw the Fintech raise £2 million in just two… Read More

February 11, 2019 @ 9:48 am By Samantha Hurst  |  

UK challenger bank Monzo announced on Monday the launch of its first 100 business accounts. This news comes just a few months after Monzo revealed it was considered business banking, with Founder and CEO, Tom Blomfield, stating 2019 plans included business accounts. Speaking about the new… Read More

January 31, 2019 @ 1:40 pm By Samantha Hurst  |  

UK challenger bank Monzo and fintech Flux announced on Thursday they have expanded their partnership to offer Flux receipts and rewards directly within the Monzo app. According to the duo,  Monzo customers the option to be able to see exactly what they’ve bought, whenever they use their… Read More

January 8, 2019 @ 9:31 am By Samantha Hurst  |  

Just days after ringing in the new year, UK challenger bank Monzo took a look back at all of its successes throughout 2018. The fintech unicorn hit various milestones throughout the past twelve months, including quickly securing £20 million through its most recent crowdfunding round and… Read More

January 4, 2019 @ 10:27 am By JD Alois  |  

Digital bank Monzo is preparing to cross the Atlantic and enter the US market, according to a report in Techcrunch. “Multiple sources” have substantiated the rumblings of Monzo’s pending US expansion. This should come as no surprise to many as several other digital banks, such… Read More

December 5, 2018 @ 10:18 am By JD Alois  |  

Monzo, an emerging heavy-weight in the hot digital banking sector, has shared that 36,006 individuals crowdfunded £20 million in just 2 days, 2 hours and 45 minutes. The offer was hosted on Crowdcube and received intense interest as competition in the UK banking sector heats… Read More

November 30, 2018 @ 10:09 am By Samantha Hurst  |  

Just days after announcing plans to raise up to £20 million through its upcoming crowdfunding round, UK challenger bank Monzo is now setting the record straight after a media outlet claimed that the startup was lending money to customers to help them purchase shares. According to… Read More

November 26, 2018 @ 1:47 pm By Samantha Hurst  |  

Less than a month after securing £85 million through its latest investment round, which was led by General Catalyst, alongside Accel, UK-based challenger bank Monzo announced on Monday it is now seeking up to £20 million through its upcoming crowdfunding efforts. As previously reported, Monzo (which… Read More

November 20, 2018 @ 8:51 am By Samantha Hurst  |  

UK challenger bank Monzo announced on Monday it is now bringing instant signup to Google Pay. This news comes just six months after the fintech announced users are now able to use Apple Pay for purchases. Monzo reported that if users sign up to Monzo today on… Read More

November 15, 2018 @ 3:00 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Thursday it has formed a partnership with the Financial Capability Lab. According to the Monzo, the Financial Capability Lab was started in 2016 by the Money Advice Service, in partnership with the government’s Behavioural Insights Team. The startup also reported that… Read More

November 14, 2018 @ 8:10 am By Samantha Hurst  |  

UK-based challenger bank Monzo has teamed up with PayPoint to use its cash payments solution for its current account holders. According to the fintech, customers may now deposit up to £300 cash directly into their Monzo account in a single transaction at any of PayPoint’s 28,000 stores…. Read More