Funding round
Monzo Series D
Monzo, which works in personal banking account services in London, raised $93M in a Series D round announced on 6 Nov 2017, led by Stripes and Goodwater Capital. 7 firms took part, 2 of them already investors, with 1 individual investor. It is Monzo's second venture round on record; the one before was a Series C in Mar 2017.
$93M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Monzo did not disclose a valuation in this round; its last disclosed one was $133M at the Series C (Mar 2017). It came 8 months after Monzo's Series C. It is 8.5% of the $1.09B Monzo has raised in the venture rounds on record. Monzo raised again 19 months later: a Growth round of $144M in Jun 2019, at $2.55B 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 this round 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
Stripes and Goodwater Capital led the round with 5 other firms. Stripes and Goodwater Capital had backed Monzo before.
Lead investors
- Stripes backs 101 venture-backed companies existing investor
- Goodwater Capital backs 162 venture-backed companies existing investor
Also in the round
- Sequoia Capital backs 589 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- Thrive Capital backs 130 venture-backed companies new investor
- Orange Digital Ventures new investor
- Crankstart Foundation new investor
Individual investors: Michael Moritz.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Banks & ATMs, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Bluevine Banks & ATMs | 14 Dec 2016 | $49M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 30 Nov 2017 | $117M | $2.30B | Baillie Gifford |
| Farmers Business Network Farms & Agriculture Production | 30 Nov 2017 | $110M | not disclosed | T. Rowe Price and Temasek |
| GetYourGuide Travel Agencies | 2 Nov 2017 | $75M | not disclosed | Battery Ventures |
| Tech Companies | 2 Nov 2017 | $60M | not disclosed | Run Liang Tai Fund (RLT) and Sunsea Telecommunications Co. Ltd. |
| Tech Companies | 8 Nov 2017 | $51M | not disclosed | Access Industries |
| Tech Companies | 8 Nov 2017 | $47M | not disclosed | Norwest |
| Tech Companies | 28 Nov 2017 | $38M | not disclosed | Legend Capital |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Monzo raise in its Series D round?
Monzo raised $93M in its Series D round, announced in Nov 2017.
Who led Monzo's Series D round?
Stripes and Goodwater Capital led it, with Sequoia Capital, Passion Capital, Thrive Capital, Orange Digital Ventures and Crankstart Foundation.
What was Monzo's valuation at the Series D round?
It was not disclosed; its last disclosed one was $133M at the Series C (Mar 2017).
Did Monzo raise again after this round?
Yes: a Growth round in Jun 2019 of $144M at $2.55B post-money.