Some interesting numbers / information on Monzo's competitors in this podcast from 11FS, who also interviewed some of the Monzo team last week. -
From 5:40 onwards.
Reported funding of the challenger banks:
- Starling received an additional £48m in January
- Atom £135m total
- Tandem £100m
- Monzo £15m (I don't think the host said £50m)
Platforms which the challenger banks are built on:
For anyone who's interested, the remainder of the discussion about the challenger banks is mainly focused on whether these banks really are different, their business models & whether banks trying to influence user's behavior is a good thing.
It's discussion with some pretty influential, intelligent people from the fintech industry not getting challenger banks - although they obviously haven't taken an in depth look at them either, to be fair..