JP Morgan are launching a UK online Challenger bank Next year - But surely it would be better to just buy Monzo.
Monzo‘s future would be secured and JP Morgan would quickly establish its self in a commanding position With 4.5 million customers and the financial clout to challenge the dominance of the big 4 UK banks
JP Morgan are valued at 300 billion dollars so buying Monzo at our current valuation of £1.5 Billion seems a no brainer as it would practically reduce any risk of their Online offering having any IT meltdown as Monzo’s platform is so stable, secure and most importantly in-house (mostly).
I hope Anils US back ground allows him to approach them before it’s too late
And for those who are just skimming this thread I am a big supporter of Monzo.Their app has allowed me to manage my money better, clear my overdraft and manage my bills better and that has given me a lot more financial freedom than I ever had with the other 4 banks
I do not see that as beneficial to anyone. Not all startups want to be acquired, most probably dream to become big enough to acquire other start-ups.
Why shouldn’t we want to see a future for an independent Monzo, instead of being lazy and just having it sold to someone to deal with it? Even if J.P Morgan could pump unlimited funds to Monzo, at some point they will have certain demans and Monzo will have to steer the ship into the direction given.
I think too many people got too scared about the Anual Report that puts unnecessary pressure on the staff, who is already doing very hard work.
Literally, there is nothing, but nothing new in that post, which was not in the Annual Report. If you want to discuss that, there is already a post about that.
Spreading a feeling multiple times (in this case: "monzo will fail’) does not make that feeling more real, it only starts to resonate with more people because of fear.
No need. They can start their own bank with a nice chunky switching bribe. Much cheaper than buying Monzo in the long run. No point buying a bank with hundreds of thousands, even millions, of unprofitable customers. And JP Morgan have enough resources for a nice tech stack to suit them.
Leaving being pro/anti Monzo aside, and just taking facts, didn’t the annual report, written by the auditors, say that it was a going concern? (ie: nothing to see here?)
Monzo made £1.4 million from their marketplace which is about the same as Starling made from their Payment services division. Starling’s marketplace made £79,000
Monzo made a big push for customers last summer so their costs massively went up. Really bad timing but nobody could have predicted how this year would go.
Look I think my passion has got taken the wrong way I am a big supporter of Monzo just annoyed about the way things have gone.
I am full Monzo and so are all my family even my 83 year old father so I want Monzo to succeed
I am leaving this here as I don’t want to come across as against Monzo - compete opposite but maybe that has not come across well.
Their app has allowed me to manage my money better, clear my overdraft and manage my bills better and that has given me a lot more financial freedom than I ever had with the other 4 banks
So will eat humble pie count to 10 and stop getting so uptight
And that’s fair - you’re allowed to be concerned BUT your money is FSCS protected, so making a storm in a teacup and risking starting a snowball, won’t help Monzo. It’ll become a self fulfilling prophecy…
The people that would benefit most from this would be the investors who would be able to cash out of their shares… So your choice seems to come from some form of motivation, username seems to be a clue
Maybe Monzo being bought by GCHQ?
