Funding round
Monzo Growth
Reported as "Growth Equity"
Monzo, which works in personal banking account services in London, raised $100M in a Growth round announced on 7 Jan 2022, at a $4.50B post-money valuation. 1 firm took part, 1 of them already investors. It is Monzo's fourth venture round on record; the one before was a Growth in Jun 2019.
$100M
Amount raised
$4.50B
Post-money valuation
$4.40B pre-money
1
Investors
no lead named
1.8x
Step-up from the Growth
$2.55B in Jun 2019
2.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Monzo at $4.50B after the new money, 1.8 times the $2.55B of its Growth (Jun 2019). The $100M bought investors about 2.2% of the company. It came 31 months after Monzo's Growth. It is 9.2% of the $1.09B Monzo has raised in the venture rounds on record. Monzo raised again 28 months later: a Growth round of $190M in May 2024, at $5.20B post-money.
Monzo's funding rounds
Monzo has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Other not a venture round 20 Oct 2016, led by Passion Capital $5.9M$61M post-money
- Series C 29 Mar 2017 $27M$133M post-money
- Series D 6 Nov 2017, led by Stripes and Goodwater Capital $93M
- Growth 25 Jun 2019, led by Y Combinator $144M$2.55B post-money
- Growth this round 7 Jan 2022 $100M$4.50B post-money
- Growth 8 May 2024 $190M$5.20B post-money
- Series H+ 31 Dec 2024, led by CapitalG and GV $534M
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- Tencent existing investor
Comparable rounds
How it compares
9 Growth rounds in Banks & ATMs within a year either side disclosed an amount; the median was $166M, and this round was 60% of the median. The closest in time, other companies' Growth rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 21 Feb 2022 | $101M | not disclosed | BBVA |
| Cross River Banks & ATMs | 30 Mar 2022 | $620M | $3.00B | Eldridge and Andreessen Horowitz |
| Banks & ATMs | 21 Mar 2022 | $230M | not disclosed | Apax Partners |
| Zopa Banks & ATMs | 19 Oct 2021 | $300M | $1.00B | SoftBank Vision Fund and Softbank |
| Starling Banks & ATMs | 26 Apr 2022 | $166M | not disclosed | not named |
| Varo Banks & ATMs | 9 Sep 2021 | $510M | $2.50B | Lone Pine Capital |
| Banks & ATMs | 1 Aug 2022 | $30M | not disclosed | not named |
| Banks & ATMs | 23 Feb 2021 | $109M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Monzo raise in its Growth round?
Monzo raised $100M in its Growth round, announced in Jan 2022.
Which investors took part in Monzo's Growth round?
Tencent.
What was Monzo's valuation at the Growth round?
$4.50B post-money ($4.40B pre-money).
How does it compare with other Growth rounds in Banks & ATMs?
9 Growth rounds in Banks & ATMs within a year either side disclosed an amount; the median was $166M, and this round was 60% of the median.
Did Monzo raise again after this round?
Yes: a Growth round in May 2024 of $190M at $5.20B post-money.