Funding round
Monzo Series C
Monzo, which works in personal banking account services in London, raised $27M in a Series C round announced on 29 Mar 2017, at a $133M post-money valuation. 4 firms took part. It is Monzo's first venture round on record.
$27M
Amount raised
22,000,000 GBP converted
$133M
Post-money valuation
$131M pre-money
4
Investors
no lead named
21%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Monzo at $133M after the new money. The $27M bought investors about 21% of the company. It is Monzo's first venture round on record, 2 years after it was founded in 2015. It is 2.5% of the $1.09B Monzo has raised in the venture rounds on record. Monzo raised again 8 months later: a Series D round of $93M in Nov 2017. Its next priced round, a Growth in Jun 2019, valued it at $2.55B.
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 this round 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 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
4 firms took part; no lead investor was named.
Investors
- Thrive Capital backs 130 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- Orange Digital Ventures new investor
- backs 14 venture-backed companies new investor
Comparable rounds
How it compares
The closest in time: 1 in Banks & ATMs, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| N26 Banks & ATMs | 20 Mar 2018 | $160M | not disclosed | Tencent Holdings Ltd. and Allianz X |
| Device Manufacturing | 9 Mar 2017 | $89M | not disclosed | Technology Crossover Ventures |
| DataRobot Tech Companies | 23 Mar 2017 | $54M | not disclosed | New Enterprise Associates |
| Medical Supply Manufacturers | 16 Mar 2017 | $50M | not disclosed | Advent Life Sciences and Future Fund |
| Toss Business Payment Processing & Point of Sale | 9 Mar 2017 | $48M | not disclosed | Goodwater Capital |
| Farmers Business Network Farms & Agriculture Production | 7 Mar 2017 | $40M | not disclosed | GV and DBL Partners |
| MasterClass Learning, Tutoring & Courses | 28 Mar 2017 | $35M | not disclosed | Institutional Venture Partners |
| Pharmaceutical Products | 30 Mar 2017 | $26M | not disclosed | OrbiMed and F-Prime Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Monzo raise in its Series C round?
Monzo raised $27M in its Series C round, announced in Mar 2017.
Which investors took part in Monzo's Series C round?
Thrive Capital, Passion Capital, Orange Digital Ventures and Crowdcube.
What was Monzo's valuation at the Series C round?
$133M post-money ($131M pre-money).
Did Monzo raise again after this round?
Yes: a Series D round in Nov 2017 of $93M.